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Exelon's Second Quarter Earnings Report
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Exelon (NYSE:EXC) announced its results for the second quarter on August 1, 2012. Exelon is a utility services holding company that distributes electricity and natural gas and is a major nuclear operator.
Earnings season is important to investors because it shows how much profit is left in the company's hand after deducting costs from revenue. SEE: 12 Things You Need To Know About Financial Statements
The Numbers: Exelon announced adjusted net income of 61 cents per share versus the 64 cents per share estimate. The company's net income for the quarter was $286 million. According to the reported number, this is down 53.9% from last year's figures. This marks the second quarter in a row that the company's net income has fallen after profits tumbled 70.1% in the first quarter.
Management Quote: "We have delivered on our financial and operating commitments with solid second quarter earnings, and are reaffirming our full-year operating earnings guidance of $2.55 to $2.85 per share," said Christopher M. Crane, Exelon's president and CEO. "Our businesses are performing well. Exelon Generation's nuclear fleet achieved a capacity factor of 93.4 percent, and our delivery companies - BGE, ComEd and PECO - provided strong operational and financial performance for the quarter. We are also pleased with the results of our merger integration efforts to date and are confident of realizing the value investors expect from the Exelon-Constellation merger."
Looking Ahead: Expectations for the company's next-quarter performance are more favorable than they were a month ago. The average estimate for the third quarter is now at 66 cents per share, up from 66 cents. When analyst increase earnings estimates investors can assume business has been stronger than first thought and is an encouraging sign for investors. A decreasing earning estimate is a negative sign and usually leads to a drop in the stock price. The average estimate for the fiscal year is now $2.78 per share, down from $3.02 60 days ago.
Earnings season is important to investors because it shows how much profit is left in the company's hand after deducting costs from revenue. SEE: 12 Things You Need To Know About Financial Statements
The Numbers: Exelon announced adjusted net income of 61 cents per share versus the 64 cents per share estimate. The company's net income for the quarter was $286 million. According to the reported number, this is down 53.9% from last year's figures. This marks the second quarter in a row that the company's net income has fallen after profits tumbled 70.1% in the first quarter.
Looking Ahead: Expectations for the company's next-quarter performance are more favorable than they were a month ago. The average estimate for the third quarter is now at 66 cents per share, up from 66 cents. When analyst increase earnings estimates investors can assume business has been stronger than first thought and is an encouraging sign for investors. A decreasing earning estimate is a negative sign and usually leads to a drop in the stock price. The average estimate for the fiscal year is now $2.78 per share, down from $3.02 60 days ago.
by
Investopedia Staff
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