This excerpt taken from the EXC 8-K filed Oct 23, 2009.
Narrows Full Year 2009 Earnings Guidance
CHICAGO (October 23, 2009) Exelon Corporation (NYSE: EXC) today announced that its third quarter 2009 consolidated earnings prepared in accordance with GAAP were $757 million, or $1.14 per diluted share, compared with earnings of $700 million, or $1.06 per diluted share, in the third quarter of 2008.
Exelons adjusted (non-GAAP) operating earnings for the third quarter of 2009 were $633 million, or $0.96 per diluted share, compared with $706 million, or $1.07 per diluted share, for the same period in 2008.
We are achieving our financial commitments despite difficult weather, economic and market conditions, said John W. Rowe, Exelons chairman and CEO. We continue to deliver cost savings and solid operations as shown by a 94.7 percent nuclear capacity factor for the third quarter and reliable utility performance through the critical summer months. We remain committed to achieving full year 2009 operating earnings within the guidance range we issued last fall and are narrowing that range to $4.00 to $4.10 per share.
The decrease in third quarter 2009 adjusted (non-GAAP) operating earnings to $0.96 per share from $1.07 per share in third quarter 2008 was primarily due to:
Lower third quarter 2009 earnings were partially offset by:
Adjusted (non-GAAP) operating earnings for the third quarter of 2009 do not include the following items (after-tax) that were included in reported GAAP earnings:
Adjusted (non-GAAP) operating earnings for the third quarter of 2008 did not include the following items (after-tax) that were included in reported GAAP earnings: