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Pepco Earnings Rise

Feb. 28, 2014 9:59 AM ETPOM
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Originally published at www.seclive.com

Pepco Holdings, Inc. (POM) announced its financial results for the fourth quarter and full year of fiscal 2013, posting steady earnings increases. The company, which delivers energy to around two million people in the mid-Atlantic region, reported quarterly earnings of $58M and $0.23 per share, up from the $34M and $0.15 per share last year. Annually, non-adjusted earnings dipped from $218M and $0.95 per share to $110M and $0.45 per share. However, adjusted earnings show an increase from $225M and $0.98 per share to $280M and $1.14 per share. Chairman, President, and CEO Joseph Rigby commented that the company continues to improve customer satisfaction through its reliable services, drastically reducing the number of power outages over the last three years. The company is predicting annual earnings guidance in 2014 between $1.12 and $1.27 per share.

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