Hot summer boosts Exelon’s 3Q profit

By Associated Press
Posted Oct. 22, 2010 at 7:40 a.m.

Exelon says its third-quarter net income rose 12 percent as stifling summer heat led more people to crank up their air conditioners. The company is also raising its forecast for the year. The Chicago utility company said Friday it earned $845 million, or $1.27 per share, compared with $757 million, or $1.14 per share a year earlier.

Excluding some one-time items, Exelon Corp. says it earned $739 million, or $1.11 per share, compared with $633 million or 96 cents per share.

Revenue rose 22 percent to $5.29 billion.

For the full-year, the company expects to make an adjusted profit of $3.95 to $4.10 per share. That’s up from a previous forecast of $3.80 to $4.10 per share.

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