May 6, 2011
Pepco Holdings, Inc. (NYSE:POM) reported Q1 EPS of $0.27 today, topping the consensus estimate for $0.20 per share. Revenue for the quarter was down 10% year-over-year to $1.63 billion, from $1.82 billion in Q1 of 2010.
Joseph M. Rigby, Chairman, President and Chief Executive Officer said,"Our earnings from continuing operations reflect the positive effects of our investment in utility infrastructure and reasonable regulatory outcomes. During the quarter, we continued to make good progress on a number of important Power Delivery initiatives. The investments made as part of our Reliability Enhancement Plan are on track and reflect our commitment to reduce power outages and improve service to our customers. For the remainder of 2011, we will remain focused on executing our business plan with a focus on improving reliability and the customer experience."
The company reaffirmed its guidance range for 2011 EPS of between $1.10 and $1.25, in-line with the consensus estimate for $1.20 per share.
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