- Exelon (EXC +0.5%) is higher after reporting Q2 earnings and revenues that were improved from a year ago and surpassed analyst estimates.
- EXC recorded a $143M hedging-related gain in the quarter, after taking an $8M hedging-related hit in last year's Q2, the gain added $0.16 to EPS, whereas hedging activity shaved a penny off the prior-year period’s result.
- Weather was mostly a negative factor in Q2, especially in the ComEd segment, which services nearly 4M customers in Illinois and is EXC’s largest, as profit fell 11% Y/Y to $99M.
- Q2 profit at the company’s PECO segment, which provides electricity and natural gas to ~2.1M customers in southeastern Pennsylvania, fell 17%.
- EXC also says it and Pepco Holdings have extended the termination date for EXC's proposed $6.8B takeover to Oct. 29 from July 29; the merger still needs approval from the Public Service Commission of the District of Columbia.