PPL, Exelon report Q2 earnings increases
Two power companies with operations in the midstate this week announced higher second-quarter reported earnings this year compared with the same period in 2012.
Allentown-based PPL Corp. reported Thursday net income attributable to company shareholders of about $405 million, or 63 cents per diluted common share, compared with about $271 million, or 46 cents per diluted common share, in the second quarter last year, according to a news release.
The company also increased its earnings forecast for the year from ongoing operations to a range of $2.25 to $2.40 from a range of $2.15 to $2.40 per share, the release stated.
The reported earnings for the second quarter included net special item credits of about $94 million, or about 14 cents per share.
Earnings from ongoing operations were about $311 million, or 49 cents per share, in the second quarter this year compared with $298 million, or 51 cents per share, in the period last year.
Subsidiary PPL Electric Utilities delivers electricity to customers in parts of Pennsylvania, including portions of the midstate. Shares of PPL Corp. are traded on the New York Stock Exchange under the ticker symbol PPL.
Illinois-based Exelon Corp., which has nuclear power holdings in the midstate, reported Wednesday net income for the second quarter of about $490 million, or 57 cents per diluted share, compared with $286 million, or 33 cents per diluted share, in the year-ago period, according to a news release.
Adjusted operating income, which excludes certain items, fell from about $522 million, or 61 cents per diluted share in the year-ago period to about 454 million, or 53 cents per share, in the second quarter this year.