Earnings Call Excerpt
Exelon (EXC)
Q3 2006 Earnings Call
October 27, 2006 11:00 am ET
Executives:
John Rowe, Chairman and CEO
John Young, EVP and CFO
Frank Clark, ComEd CEO
Matthew F. Hilzinger, SVP, Controller, Chief Accounting Officer
Joyce Carson, IR
Analysts:
Paul Fremont, Jefferies & Co
John Kiani, Deutsche Bank
Vic Khaitan, Deutsche Asset Management
Greg Gordon, Citigroup
Michael Lapides, Goldman Sachs
Paul Rizdon, Keybanc Capital
Paul Patterson, Glenrock Associates
Daniele Seitz, Dahlman Rose
Presentation
Operator
Good morning, my name is Eduardo and I will be you conference operator today. At this time, I would like to welcome everyone to the Exelon Corporation Third Quarter 2006 Earnings Release Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker’s remarks, there will be a question and answer period. Please limit yourself to one question. If you would like to pose a question during this time please press * then the number 1 on you telephone keypad. If you would like to withdraw your question please press the # key. Thank you. It is now my pleasure to turn the floor over to your host, Joyce Carson, Vice President of Investor Relations and Shareholder Services. Ma’am you may begin your conference.
Joyce Carson, IR
Thank you, Eduardo. Good morning and welcome to the Exelon third quarter earnings review and update conference call. Thank you for joining us today. We issued our earnings release this morning. If you haven't received it, the release is available on the Exelon website at www.exeloncorp.com, or you can call Mary Snider at 312-394-5222 and she will fax or e-mail the release to you.
This call is being recorded and will be available through November 10th by dialing 877-519-4471. The international call-in number is 973-341-3080. The confirmation code is 7947312. In addition, the call will be archived on the Exelon website.
Before we begin today's discussions, let me remind you that the earnings release and other matters we may discuss in today's call may contain forward-looking statements and estimates that are subject to various risks and uncertainties. Please refer to our SEC filings for discussions of factors that may cause results to differ from management's projections, forecasts, and expectations.
In our press release and during this call we will discuss adjusted non-GAAP operating earnings that exclude the impact of mark-to-market adjustments for non-trading activities, investments (Inaudible) as approved in the July 26th IPC rate order and other unusual items including any future changes. We believe these adjusted operating earnings are representative of the underlying operational performance. In today’s earnings release we’ve provided reconciliation between GAAP earnings and adjusted non-GAAP operating earnings.
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