UPDATE: Exelon Posts Lower Q4 Earnings, Sales Top Estimates

reported a decline in its earnings for the fourth quarter. However, the company reported upbeat quarterly sales. Net income attributable to common shareholders slipped to $18 million, or $0.02 per share, compared to $495 million, or $0.58 per share, in the year-ago period. Excluding items, the company's earnings fell to $0.48 per share from $0.50 per share. Its revenue rose to $7.26 billion from $6.18 billion, while non-GAAP revenue came in at $6.94 billion. However, analysts were expecting earnings of $0.50 per share on revenue of $5.83 billion. Generation segment posted a quarterly GAAP net loss of $91 million, versus year-ago net income of $269 million. ComEd's GAAP net income came in at $73 million, down from $109 million. PECO's GAAP net income fell to $98 million from $102 million, while BGE's GAAP net income rose to $52 million from $47 million. "Exelon had a strong year, both operationally and financially. We delivered earnings within our guidance range, and our generation fleet and utilities continued to perform at high levels," said Exelon President and CEO Christopher M. Crane. For the full year, Exelon projects adjusted earnings of $2.25 to $2.55 per share. Exelon shares climbed 3.05% to $35.49 in pre-market trading.