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
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.