Infrastructure
Exelon & NRG, Earnings and a Duel (EXC, NRG)
Published:
Last Updated:
Exelon Corporation (NYSE:EXC) rose nearly 1.5% yesterday after the company reported fourth quarter 2008 EPS of $1.07, up from $0.84 in 2007. Full-year revenue of $18.86 billion was almost $1 billion higher than estimates, and full-year EPS reached $4.13 slightly lower than estimated EPS of $4.17. The company reaffirmed guidance for 2009 for non-GAAP earnings of$4.00-$4.30/share. Exelon also confirmed that it will continue itsefforts to acquire NRG Energy Inc.(NYSE:NRG).
The earnings release included a report of a meeting betweenExelon and NRG executives at which no "agreement or arrangementconcerning further discussions, due diligence or other exchange ofinformation" was reached. According to Exelon, NRG wants to see if any other companies are interested in buying NRG.
NRG’s preliminary report confirmed adjusted EBITDA guidance of $2.2billion for 2009, and upped the cash flow from operations by $200million, to $1.5 billion.
NRG shares are trading up slightly this morning, and Exelon is down about 1%.
Paul Ausick
January 23, 2009
Take Charge of Your Retirement In Just A Few Minutes (Sponsor)
Retirement planning doesn’t have to feel overwhelming. The key is finding expert guidance—and SmartAsset’s simple quiz makes it easier than ever for you to connect with a vetted financial advisor.
Here’s how it works:
- Answer a Few Simple Questions. Tell us a bit about your goals and preferences—it only takes a few minutes!
- Get Matched with Vetted Advisors Our smart tool matches you with up to three pre-screened, vetted advisors who serve your area and are held to a fiduciary standard to act in your best interests. Click here to begin
- Choose Your Fit Review their profiles, schedule an introductory call (or meet in person), and select the advisor who feel is right for you.
Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.