Pepco Holdings Swings To Q1 Profit, Backs 2014 Outlook - Quick Facts

(RTTNews) - Electric and natural gas utility company Pepco Holdings, Inc. (POM) reported that first-quarter net income was $75 million or $0.30 per share, compared to a net loss of $430 million or $1.82 per share in the prior-year quarter.

Net income from continuing operations for the quarter was $75 million or $0.30 per share, compared to a net loss of $111 million or $0.47 per share in the year-ago quarter.

Excluding items, adjusted earnings from continuing operations for the quarter was $75 million or $0.30 per share, compared to $56 million or $0.24 per share last year.

On average, 11 analysts polled by Thomson Reuters expected the company to report earnings of $0.24 per share for the quarter. Analysts' estimates typically exclude special items.

Operating revenue for the quarter grew to $1.33 billion from $1.18 billion in the same quarter last year. Wall Street analysts had a consensus revenue estimate of $1.06 billion for the quarter.

Looking ahead to fiscal 2014, the company continues to expect earnings in a range of $1.12 and $1.27 per share. Street is currently looking for full-year 2014 earnings of $1.22 per share.