Summary
Exelon Corporation (EXC) filed this 8-K on December 19, 2007, to provide updates during its annual investor conference. The company reaffirmed its full-year 2007 adjusted operating earnings guidance of $4.15 to $4.30 per share, indicating a likely performance at the upper end of this range. Exelon also revised its 2007 GAAP earnings guidance to $4.05 to $4.20 per share and reaffirmed its adjusted operating earnings guidance for 2008, along with providing its 2008 GAAP earnings guidance. In addition to financial guidance, Exelon announced a 14% increase in its first-quarter 2008 regular dividend to $0.50 per share. Furthermore, the Board of Directors authorized a new share repurchase program of up to $500 million, adding to a previously executed $1.25 billion repurchase in September 2007. This demonstrates a continued commitment to returning value to shareholders through dividends and share buybacks, with potential for further repurchases in 2008.
Key Highlights
- 1Reaffirmed 2007 adjusted operating earnings guidance of $4.15 - $4.30 per share, with results expected at the upper end.
- 2Revised 2007 GAAP earnings guidance to $4.05 - $4.20 per share.
- 3Reaffirmed 2008 adjusted operating earnings guidance and provided 2008 GAAP earnings guidance.
- 4Announced a 14% increase in the Q1 2008 regular dividend to $0.50 per share.
- 5Authorized a new $500 million share repurchase program, in addition to a prior $1.25 billion repurchase.
- 6Indicated potential for additional share repurchases in 2008, subject to cash availability and board approval.
- 7The report includes attachments of a press release, presentation slides, and supplemental information for investors.