UPDATE: Pepco Posts Rise In Q4 Profit
Pepco Holdings (NYSE: POM) reported a 35% rise in its fourth-quarter profit.
For the year, Pepco projects earnings of $1.12 to $1.27 per share, versus analysts' estimates of $1.22 per share.
Pepco's quarterly earnings surged to $58 million, or $0.23 per share, versus a year-ago profit of $43 million, or $0.18 per share. Excluding one –time items, its earnings from continuing operations came in at $0.24 per share.
Its total operating revenue climbed 3.3% to $1.09 billion. However, analysts were expecting earnings of $0.21 per share on revenue of $1.11 billion.
Pepco shares closed at $20.43 yesterday.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.