Exelon Reports 22% drop in Fourth-Quarter 2015 Earnings, 5% Increase for Whole Year

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Researched by Industrial Info Resources (Sugar Land, Texas)--Citing unusually warm weather, energy company Exelon (NYSE:EXC) (Chicago, Illinois) reported 2015 fourth-quarter earnings of $347 million, a 22% decrease compared with fourth-quarter 2015. Income for the whole year, however, increased by 5% to $2.2 billion compared with the year before. Industrial Info is tracking eight active projects related to Exelon worth $412 million.

Industrial Info is tracking the $300 million Carsonville 153-megawatt (MW) Michigan Wind III Windfarm, which is set to kick off in April this year and be completed in December. Another project is the $30 million Clinton Nuclear 1,043-MW Dry Cask Storage Installation in Illinois, which kicked off in May 2014 and is expected to be completed late this month.

Exelon's utilities segment did particularly well for the year. "We achieved a major earnings milestone: our utilities earned over $1 billion in net income, delivering the highest utility earnings on record," said Chief Executive Officer Chris Crane during the fourth-quarter earnings conference call on February 3.

Operating revenues for the firm's generation segment increased 10% from full-year 2014 to $19.1 billion. Fourth-quarter 2015 operating earnings for this segment were $142 million, a 63% drop from fourth-quarters 2014.

Crane stated: "Despite a challenging year for the sector, strong operating performance at both our utilities and our generation business enabled us to deliver strong earnings."

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