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Last $26.77 USD
Change Today -0.05 / -0.19%
Volume 854.6K
POM On Other Exchanges
Symbol
Exchange
New York
As of 6:40 PM 08/4/15 All times are local (Market data is delayed by at least 15 minutes).

pepco holdings inc (POM) Key Developments

Pepco Holdings, Inc. Enters into $300,000,000 Term Loan Agreement with the Bank of Nova Scotia

On July 30, 2015, Pepco Holdings, Inc. entered into a $300,000,000 Term Loan Agreement with The Bank of Nova Scotia, as Administrative Agent, and the lenders party thereto. Subject to the terms and conditions of the Loan Agreement, PHI has borrowed (and may not reborrow) $300,000,000 at a rate of interest equal to the prevailing Eurodollar rate, which is determined by reference to the London interbank offered rate with respect to the relevant interest period, all as defined in the Loan Agreement, plus a margin of 0.95%. The company’s Eurodollar loans may be converted into floating rate loans under circumstances provided for in the Loan Agreement, and, in that event, for so long as any loan remains a floating rate loan, interest would accrue on that loan at a rate per year equal to the higher of (A) the prevailing prime rate, (B) the federal funds effective rate plus 0.5%, or (C) the one-month Eurodollar rate plus 1%, plus; a margin of 0.95%. As of July 30, 2015, the outstanding loan balance under the Loan Agreement bore interest at a rate of 1.15% per year, which is subject to adjustment from time to time as provided in the Loan Agreement. All indebtedness incurred under the Loan Agreement is unsecured, and the aggregate principal amount of all loans, together with any accrued but unpaid interest due under the Loan Agreement, must be repaid in full on or before July 28, 2016.

Pepco Holdings, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Pepco Holdings, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported operating revenue of $1,140 million against $1,117 million a year ago. Operating income was $139 million against $151 million a year ago. Income before income tax expense was $80 million against $98 million a year ago. Net income was $53 million or $0.21 basic and diluted per share against $53 million or $0.21 basic and diluted per share a year ago. Adjusted net income was $57 million or $0.28 per share against $71 million or $0.28 per share a year ago. For the six-month period, operating revenue was $2,511 million against $2,447 million a year ago. Operating income was $281 million against $324 million a year ago. Income before income tax expense was $163 million against income of $219 million a year ago. Net income was $106 million or $0.42 basic and diluted per share against $128 million or $0.51 basic and diluted per share a year ago. Adjusted net income was $118 million or $0.47 per share against $146 million or $0.58 per share a year ago.

Pepco Holdings, Inc. Declares Dividend for the Second Quarter of 2015, Payable on September 30, 2015

Pepco Holdings Inc. announced that its board of directors declared a quarterly dividend of $0.27 per share on company's common stock that is payable on September 30, 2015, to shareholders of record on September 10, 2015, assuming the company's proposed merger with Exelon Corporation does not close on or prior to the close of business on September 10, 2015.

Pepco Holdings, Inc., Potomac Electric Power Company, Delmarva Power & Light Company, and Atlantic City Electric Company Enter into Third Amendment to Second Amended and Restated Credit Agreement

On May 1, 2015, Pepco Holdings, Inc., Potomac Electric Power Company, Delmarva Power & Light Company, and Atlantic City Electric Company entered into a Third Amendment to Second Amended and Restated Credit Agreement (the Amendment) among certain Lenders, Bank of America, N.A., as syndication agent and as an issuer of letters of credit, and Wells Fargo Bank, National Association, as (i) agent on behalf of the various financial institutions (the Lenders) from time to time party to that certain Second Amended and Restated Credit Agreement dated as of August 1, 2011, and as amended on August 2, 2012, extended on June 6, 2013 and amended on May 20, 2014 (the Credit Agreement), (ii) the swingline lender and (iii) as an issuer of letters of credit.

Pepco Holdings, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015

Pepco Holdings, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported operating revenue of $1,371 million against $1,330 million a year ago. Operating income was $142 million against $173 million a year ago. Income before income tax expense was $83 million against $121 million a year ago. Net income was $53 million against $75 million a year ago. Basic and diluted earnings per share were $0.21 against $0.30 a year ago. 2015 Adjusted net income (Non-GAAP) was $61 million against $75 million a year ago. Adjusted earnings per share (Non-GAAP) were $0.24 against $0.30 a year ago. The primary drivers of the decrease in adjusted net income for the first quarter of 2015, as compared to the 2014 period, were higher operation and maintenance expense (primarily due to the implementation of a new customer information system and increased distribution system maintenance), higher depreciation expense and a 2014 gain on the condemnation of transmission property in the Pepco service territory. Higher electric distribution revenue (primarily due to higher rates driven by increased infrastructure investment and customer growth) partially offset the decrease.

 

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POM

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Valuation POM Industry Range
Price/Earnings 30.9x
Price/Sales 1.4x
Price/Book 1.6x
Price/Cash Flow 8.3x
TEV/Sales 0.1x
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