Exelon posts 73 percent earnings increase

Peco's parent, Exelon Corp., today reported a 73 percent rise in first-quarter earnings.

The Chicago utility said it had profit of $691 million, or $1.02 per diluted share, on revenue of $4.83 billion compared with a profit of $400 million, or 59 cents per share, on revenue of $3.86 billion for the same period a year ago.

The company attributed the performance to higher profit margins, higher output from its nuclear plants, and cold winter weather in the Northeast, including Peco's territory in the Philadelphia area.

Exelon also affirmed its 2007 earnings outlook at $4.10 to $4.40 per share. The outlook includes 60 cents to 65 cents per share from Peco operations. In 2006, Exelon reported earnings of $2.35 a share.

Exelon shares were trading up 41 cents, or 0.6 percent, at $75.40 early this afternoon on the New York Stock Exchange.