Exelon Corporation’s (NYSE:EXC) first-quarter 2019 operating earnings of 87 cents per share were on par with the Zacks Consensus Estimate. However, the reported earnings were 9.4% lower than the year-ago figure of 96 cents.
The year-over-year decline in earnings was primarily due to lower realized energy prices.
On a GAAP basis, its quarterly earnings were 93 cents per share compared with 60 cents in the year-ago quarter.
Total Revenues
Exelon's total revenues of $9,477 million surpassed the Zacks Consensus Estimate of $9,395 million by 0.9%. However, the top line declined 2.3% from the year-ago quarter. The year-over-year decline in revenues was due lower contribution from Generation and ComEd businesses.
Exelon Corporation Price, Consensus and EPS Surprise
Exelon Corporation Price, Consensus and EPS Surprise | Exelon Corporation Quote
Highlights of the Release
Exelon's total operating expenses decreased 4.5% year over year to $8,262 million. The decline in total expenses was due to lower power and fuel costs, as well as operating and maintenance expenses.
Interest expenses were $403 million, up 8.6% from $371 million in the year-ago quarter.
In the reported quarter, the company efficiently serviced more electric and natural gas customers than the year-ago period.
Hedges
Exelon's hedging program involves safeguarding of commodity risks for expected generation, typically on a ratable basis, over a three-year period. The proportion of expected generation hedged as of Mar 31, 2019 was 90-93% for 2019, 64-67% for 2020 and 38-41% for 2021.
Financial Highlights
Cash and cash equivalents were $880 million as of Mar 31, 2019 compared with $1,349 million on Dec 31, 2018.
Long-term debt was $32,960 million as of Mar 31, 2019 compared with $34,075 million on Dec 31, 2018.
Cash from operating activities in the first quarter was $1,044 million compared with $1,052 million in the year-ago period.
Zacks Rank
Exelon currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Releases
NextEra Energy, Inc. (NYSE:NEE) reported first-quarter 2019 adjusted earnings of $2.20 per share, beating the Zacks Consensus Estimate of $2.01 by 9.4%.
FirstEnergy Corporation (NYSE:FE) reported first-quarter 2019 operating earnings of 67 cents per share, which beat the Zacks Consensus Estimate of 66 cents by 1.52%.
American Electric Power Co., Inc. (NYSE:AEP) reported first-quarter 2019 adjusted earnings per share of $1.19, surpassing the Zacks Consensus Estimate of $1.10 by 8.2%.
Zacks' Top 10 Stocks for 2019
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-holds for the year?
Who wouldn't? Our annual Top 10s have beaten the market with amazing regularity. In 2018, while the market dropped -5.2%, the portfolio scored well into double-digits overall with individual stocks rising as high as +61.5%. And from 2012-2017, while the market boomed +126.3, Zacks' Top 10s reached an even more sensational +181.9%.
See Latest Stocks Today >>
FirstEnergy Corporation (FE): Free Stock Analysis Report
Exelon Corporation (EXC): Free Stock Analysis Report
NextEra Energy, Inc. (NEE): Free Stock Analysis Report
American Electric Power Company, Inc. (AEP): Free Stock Analysis Report
Original post
Zacks Investment Research