Exelon Profit Falls on Warmer-Than-Normal Weather
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Exelon Corp., the largest U.S. power company, said first-quarter profit fell 70 percent as warmer-than-normal weather reduced demand for electricity.
Net income dropped to $200 million, or 28 cents a share, from $668 million, or $1.01, a year earlier, Chicago-based Exelon said in a statement today. Excluding merger-related expenses and other one-time items, per-share profit was 6 cents more than the average of 13 analysts’ estimates compiled by Bloomberg.