| Pepco Holdings Misses Q2 Earnings; Exelon Merger in Focus - Analyst Blog | |
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Pepco Holdings Inc. POM reported second quarter 2015 earnings from continuing operations of 23 cents per share, missing the Zacks Consensus Estimate by 20.7%. Earnings declined 17.9% year over year.
Higher operation and maintenance, and depreciation expenses offset increased electric distribution revenue, leading to the earnings decline. Pepco Holdings Inc. - Earnings Surprise | FindTheBest GAAP earnings per share were 21 cents, in line with year-ago results. The difference between GAAP and operating earnings during the reported quarter was due to 2 cents of merger related costs.
Despite the earnings miss, the shares gained 0.8% to close at $26.62 yesterday. It appears that investors are more interested in the closing of the Pepco-Exelon merger, which if approved is going to create a leading Mid-Atlantic natural gas and electric utility serving nearly 10 million consumers.
Behind the Headlines
Total revenues in the second quarter were $1.14 billion, up 2.1% year over year driven by a 3.7% rise in revenues at Power Delivery.
Total regulated transmission & distribution electric sales, at Power Delivery, increased 0.9% to 11,279 gigawatt hours (GWh). At the end of second-quarter 2015, the company served 22,000 more electric customers and 3,000 more gas customers compared with the prior-year period.
Total operating expenses in the reported quarter increased 3.6% from the year-ago period. Higher operation and maintenance costs led to the rise in total expenses.
Financial Update
Cash and cash equivalents, including restricted cash, were $47 million as of Jun 30, 2015, up from $39 million as of Dec 31, 2014.
Long-term debts as of Jun 30, 2015, were $4.84 billion, up 9.2% from $4.48 billion as of Dec 31, 2014.
Exelon Merger
Pepco Holdings expects the merger with Exelon Corp. EXC to materialize in the second half of 2015. The merger still requires the approval by the Public Service Commission of the District of Columbia.
Other Company Releases
DTE Energy DTE reported second-quarter 2015 operating earnings per share of 76 cents, lagging the Zacks Consensus Estimate of 84 cents by 9.5%.
CMS Energy Corporation CMS reported second-quarter 2015 adjusted earnings per share of 25 cents, missing the Zacks Consensus Estimate of 33 cents by 24.2%
Zacks Rank
Pepco Holdings currently has a Zacks Rank #4 (Sell). Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CMS ENERGY (CMS): Free Stock Analysis Report PEPCO HLDGS (POM): Free Stock Analysis Report EXELON CORP (EXC): Free Stock Analysis Report DTE ENERGY CO (DTE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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CMS Energy Corporation
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CODE : CMS |
ISIN : US1258961002 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
CMS Energy is a producing company based in United states of america. CMS Energy is listed in Germany and in United States of America. Its market capitalisation is US$ 17.1 billions as of today (€ 16.0 billions). Its stock quote reached its lowest recent point on April 18, 2014 at US$ 0.12, and its highest recent level on April 25, 2024 at US$ 60.48. CMS Energy has 282 420 406 shares outstanding. |