Pepco Holdings Earnings Cheat Sheet: Swing to a Profit, Topping Analysts’ Estimates

S&P 500 (NYSE:SPY) component Pepco Holdings, Inc. (NYSE:POM) reported its results for the second quarter. Pepco Holdings, Inc. is an energy company that delivers electricity and natural gas and generates and supplies energy generation.

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Pepco Holdings Earnings Cheat Sheet for the Second Quarter

Results: Swung to a profit of $94 million (42 cents per diluted share) in the quarter. The electric utilities company had a net loss of $54 million or a loss of 24 cents per share in the year earlier quarter.

Revenue: Fell 13.9% to $1.41 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: POM beat the mean analyst estimate of 31 cents per share. It fell short of the average revenue estimate of $1.74 billion.

Quoting Management: “Our earnings from continuing operations reflect the effects of our investment in utility infrastructure and reasonable regulatory outcomes. Lower interest expense and tax adjustments also contributed to higher earnings,” said Joseph M. Rigby, Chairman, President and Chief Executive Officer. “During the quarter, we continued to make progress on a number of important Power Delivery initiatives. The investments made as part of our Reliability Enhancement Plan are on track and we are beginning to see positive trends in the operating performance of our electric system.”

Key Stats:

The company has now topped analyst estimates for the last four quarters. It beat the mark by 7 cents in the first quarter, by 14 cents in the fourth quarter of the last fiscal year, and by 12 cents in the third quarter of the last fiscal year.

Revenue has fallen in the past four quarters. Revenue declined 30.7% to $1.63 billion in the first quarter. The figure fell 28.9% in the fourth quarter of the last fiscal year from the year earlier and dropped 18.6% in the third quarter of the last fiscal year from the year-ago quarter.

Competitors to Watch: Public Service Enterprise Group Inc. (NYSE:PEG), NextEra Energy, Inc. (NYSE:NEE), FirstEnergy Corp. (NYSE:FE), Northeast Utilities System (NYSE:NU), Constellation Energy Group, Inc. (NYSE:CEG), DPL Inc. (NYSE:DPL), The Southern Company (NYSE:SO), Consolidated Edison, Inc. (NYSE:ED), Exelon Corporation (NYSE:EXC), and Duke Energy Corporation (NYSE:DUK).

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(Source: Xignite Financials)