This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Pepco Holdings' CEO Discusses Q3 2011 Results - Earnings Call Transcript

On today's call, we will be referring to Slides, which are available on the Investor Relations section of our website.

Before Joe begins, let me remind you that some of the comments made during today's conference call may be considered forward-looking statements. As such, they should be taken in the context of the risks and uncertainties discussed in the Safe Harbor disclosures contained in our Securities and Exchange Commission filings and found on Slide 2 of our presentation.

Also please note that today's call will include a discussion of our results excluding certain items that we feel are not representative of the company's ongoing business operations. These special items and our financial impact are described in our earnings release dated today. The earnings release can be found on our website at Joe?

Joseph M. Rigby

Thanks, Donna, and good morning, ladies and gentlemen, and thank you for joining us today. Earnings from continuing operations for the third quarter of 2011 were $80 million compared to $21 million for the third quarter of 2010. Excluding special items for the 2010 quarter, earnings would have been $116 million. Our operating results reflect continued progress on executing our strategic plan, including our efforts to improve system reliability and customer service. Our results for both 2011 and 2010 quarters reflect Conectiv Energy's results as discontinued operations. Tony will discuss the financial results on our operating segment performance in more detail but first, I'd like to address some topics of interest.

Improving system reliability remains a top priority for our company. As shown on Slide 3, we continue to make good progress in advancing infrastructure improvements and performance system maintenance focused primarily in the Pepco region that will reduce power outages and improve service for our customers. Since the launching of our Reliability Enhancement Plan last fall for Pepco, we have trimmed trees along more than 2,600 miles of power lines, replaced or upgraded more than 230 miles of underground cable, and added more than 125 automated switches that will reroute power more effectively during storms. Our Reliability Enhancement Plan is on track and we are beginning to see positive trends in the operating performance of our electric system as is demonstrated by improved outage frequency and outage duration statistics for Pepco.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.54 -0.51%
FB $98.12 -5.70%
GOOG $667.55 -2.30%
TSLA $147.44 -9.30%
YHOO $26.89 -3.90%


Chart of I:DJI
DOW 15,823.23 -381.74 -2.36%
S&P 500 1,831.59 -48.46 -2.58%
NASDAQ 4,223.8970 -139.2470 -3.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs