Exelon posts Q2 earnings, revenue beats on strength in Illinois unit
peterschreiber.media/iStock via Getty Images
Exelon (NASDAQ:EXC) is little changed pre-market Wednesday after reporting better than expected Q2 adjusted earnings and revenues, helped by strong performances at units that serve customers in Illinois and Maryland.
Q2 net income fell to $343M, or $0.34/share, from $465M, or $0.47/share, in the year-earlier quarter, driven primarily by rate increases at its local energy companies, which helped offset the impact of unfavorable weather and higher interest expense on demand.
ComEd, which serves more than 4M customers in Chicago and the northern Illinois region, saw its quarterly adjusted earnings rise to $251M from $229M in the prior-year period.
Q2 net income fell at Exelon's (EXC) PECO subsidiary, which operates in southeastern Pennsylvania and was the only segment to post a profit decline; the company said results were hurt by unfavorable weather conditions.
More on Exelon:

Financial and valuation comparison to sector peers
Analysis: Exelon: Attractive Finances And Valuation Plus Resistance To Recessions
Stock price return: Down 4% YTD, down 10% in the past 12 months