Last $27.35 USD
Change Today -0.22 / -0.80%
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As of 8:04 PM 11/21/14 All times are local (Market data is delayed by at least 15 minutes).

pepco holdings inc (POM) Key Developments

Pepco Holdings, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Revised Earnings Guidance for the Full Year of 2014; Reports Impairment Loss for the Third Quarter of 2014

Pepco Holdings, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported operating revenue of $1,313 million against $1,344 million a year ago. Operating income was $166 million against $235 million a year ago. Income from continuing operations before income tax expense was $113 million against $175 million a year ago. Net income from continuing operations was $79 million or $0.31 per basic and diluted share against $110 million or $0.44 per basic and diluted share a year ago. Net income was $79 million or $0.31 per basic and diluted share against $118 million or $0.48 per basic and diluted share a year ago. Adjusted net income from continuing operations was $116 million or $0.46 per share against $110 million or 0.44 per share a year ago. The increase in adjusted net income from continuing operations (Non-GAAP) in the third quarter of 2014, as compared to the 2013 third quarter, was driven by higher electric distribution revenue (primarily due to higher rates from increased infrastructure investment) and benefits received from tax deductions associated with Pepco Energy Services energy efficiency projects. For the nine months, the company reported operating revenue of $3,760 million against $3,575 million a year ago. Operating income was $490 million against $513 million a year ago. Income from continuing operations before income tax expense was $332 million against $332 million a year ago. Net income from continuing operations was $207 million or $0.82 per basic and diluted share against $52 million or $0.21 per basic and diluted share a year ago. Net income was $207 million or $0.82 per basic and diluted share against net loss of $270 million or $1.10 per basic and diluted share a year ago. Adjusted net income from continuing operations was $262 million or $1.04 per share against $219 million or $0.90 per share a year ago. For the quarter, the company reported impairment loss of $53 million. The company narrowed its earnings guidance range for 2014 to between $1.17 and $1.27 from $1.12 and $1.27 per share.

Pepco Holdings Announces Quarterly Dividend, Payable on December 31, 2014

PEPCO Holdings announced that it will pay a quarterly dividend on its common stock of $0.27 per share on December 31, 2014 to shareholders of record on December 10, 2014.

Pepco Holdings, Inc., Board Meeting, Apr 29, 2014

Pepco Holdings, Inc., Board Meeting, Apr 29, 2014.

Pepco Holdings, Inc., Special/Extraordinary Shareholders Meeting, Sep 23, 2014

Pepco Holdings, Inc., Special/Extraordinary Shareholders Meeting, Sep 23, 2014.

Pepco Holdings, Inc. Reports Consolidated Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Reaffirms Earnings Guidance for the Full Year of 2014

Pepco Holdings, Inc. reported consolidated unaudited earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported adjusted net income from continuing operations (non-GAAP) was $71 million or $0.28 per share against $53 million or $0.21 per share a year ago. Operating revenues were $1,117 million against $1,051 million a year ago. Operating income was $151 million against $145 million a year ago. Income from continuing operations before income tax expense was $98 million against $83 million a year ago. Net income from continuing operations was $53 million or $0.21 basic and diluted per share against $53 million or $0.21 basic and diluted per share a year ago. Net income was $53 million or $0.21 basic and diluted per share against $42 million or $0.17 basic and diluted per share a year ago. For the six-month period, adjusted net income from continuing operations (non-GAAP) was $146 million or $0.58 per share against $109 million or $0.45 per share a year ago. Operating revenues were $2,447 million against $2,331 million a year ago. Operating income was $324 million against income of $278 million a year ago. Income from continuing operations before income tax expense was $219 million against income of $157 million a year ago. Net income from continuing operations was $128 million or $0.51 basic and diluted per share against net loss of $58 million or $0.24 basic and diluted per share a year ago. Net income was $128 million or $0.51 basic and diluted per share against net loss of $388 million or $1.60 basic and diluted per share a year ago. The company reaffirms its earnings guidance range for 2014 of between $1.12 and $1.27 per share. The guidance range assumes normal weather conditions and excludes: the results of discontinued operations and the impact of any special, unusual or extraordinary items, the effect of adopting new accounting standards, the effect of changes in tax law, the impairment of assets, and incremental transaction and integration costs associated with the planned merger with Exelon.

 

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