Pepco Holdings Q3 Net Profit Up, But EPS Down; Tightens 2013 Earnings View

(RTTNews) - Electric utility Pepco Holdings Inc. (POM) posted higher third-quarter net income of $118 million, versus the year-ago period's $112 million, while earnings per share declined to $0.48, from $0.49 last year. For the quarter, GAAP net income from continuing operations was $110 million, or $0.44 per share.

On average, 10 analysts polled by Thomson Reuters expected earnings per share of $0.45 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly operating revenue stood at $1.34 billion, down marginally, compared with $1.39 billion a year earlier. Two analysts estimated $1.54 billion revenues for the quarter.

For 2013, the firm narrowed its earnings per share guidance range to between $1.08 and $1.18, from its earlier range of $1.05 and $1.20. This forecast excludes the results of discontinued operations and the impact of any special, unusual or extraordinary items, and assumes normal weather conditions for the 2013 fourth quarter. Eighteen analysts project full-year earnings of $1.13 per share.