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Exelon Reports Second Quarter 2019 Results
Exelon's GAAP Net Income for the second quarter of 2019 decreased to $0.50 per share from $0.56 per share in the second quarter of 2018. Adjusted (non-GAAP) Operating Earnings decreased to $0.60 per share in the second quarter of 2019 from $0.71 per share in the second quarter of 2018. For the reconciliations of GAAP Net Income to Adjusted (non-GAAP) Operating Earnings, refer to the tables beginning on page 5.
(in millions) |
Exelon
Earnings per
Diluted
Share
|
Exelon |
ComEd |
PECO |
BGE |
PHI |
Generation |
2019 GAAP Net Income |
$0.50 |
$484 |
$186 |
$102 |
$45 |
$106 |
$108 |
Mark-to-Market Impact of Economic Hedging Activities (net of taxes of $22 and $20, respectively) |
0.07 |
68 |
— |
— |
— |
— |
65 |
Unrealized Losses Related to Nuclear Decommissioning Trust (NDT) Fund Investments (net of taxes of $28) |
0.05 |
52 |
— |
— |
— |
— |
52 |
Long-Lived Asset Impairments (net of taxes of $1) |
— |
1 |
— |
— |
— |
— |
1 |
Plant Retirements and Divestitures (net of taxes of $37 and $38, respectively) |
(0.02) |
(24) |
—
|
— |
— |
—
|
(23) |
Cost Management Program (net of taxes of $1, $0, $0, $0 and $1, respectively) |
0.01 |
6 |
— |
1 |
1 |
1 |
3 |
Litigation Settlement Gain (net of taxes of $7) |
(0.02) |
(19) |
— |
— |
— |
— |
(19) |
Noncontrolling Interests (net of taxes of $3) |
0.02
|
15 |
— |
— |
— |
— |
15 |
2019 Adjusted (non-GAAP) Operating Earnings |
$0.60 |
$583 |
$186 |
$103 |
$46 |
$107 |
$202 |
(in millions) |
Exelon
Earnings per
Diluted
Share
|
Exelon |
ComEd |
PECO |
BGE |
PHI |
Generation |
2018 GAAP Net Income |
$0.56 |
$539 |
$164 |
$96 |
$51 |
$84 |
$178 |
Mark-to-Market Impact of Economic Hedging Activities (net of taxes of $23) |
(0.07) |
(67) |
— |
— |
— |
— |
(67) |
Unrealized Losses Related to NDT Fund Investments (net of taxes of $77) |
0.08 |
81 |
— |
— |
— |
— |
81 |
PHI Merger and Integrations Costs (net of taxes of $0) |
— |
1 |
— |
|
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Paul Adams
paul.adams@constellation.com
David Snyder
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