Earnings Call Excerpt
Exelon Corporation (EXC)
Q1 2006 Earnings Conference Call
April 26th 2006, 11:00 AM.
Executives:
Joyce Carson, VP IR
John Young, EVP, VP Financial Markets & CFO
John Rowe, Chairman, President & CEO
Ian McLean, President, Exelon Power Team
Matt Hilzinger, Controller
Robert McDonald, SVP & CRO
Anne Pramaggiore, ComEd SVP, Regulatory & External Affairs
Betsy Moler, EVP Government & Environmental Affairs
Randy Mehrberg, EVP, CAO & CLO
Analysts:
Greg Gordon, Citigroup
Leslie Rich, Columbia Management
Paul Fremont, Jefferies & Company
Josh Levin, Lord Abbett
Dan Jenkins, State of Wisconsin
Paul Patterson, Glenrock Associates
Steve Fleischman, Merrill Lynch
Daniele Seitz, Dahlman Rose & Co.
Presentation
Operator
Good morning, ladies and gentlemen my name is Ian and I will be your conference facilitator today. At this time, I would like to welcome everyone to the Exelon Corporation First Quarter 2006 Earnings Release Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer period. Operator Instructions. It is now my pleasure to turn the floor over to your host, Joyce Carson, VP of Investor Relations. Joyce, you may begin your conference.
Joyce Carson, Vice President, Investor Relations
Thank you, Ian. Good morning and welcome to the Exelon First Quarter Earnings Review and Update Conference Call. Thank you for joining us this morning. You should have received a copy of our earnings release. If you haven't received it, the release is available on the Exelon website at www.exeloncorp.com or you can call Mary Snyder 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 May 10th by dialing 877-519-4471. The international call-in number is 973-341-3080. The confirmation code is 722-7985. In addition, the call will be archived on our website.
Before we begin today's discussion, let me remind you that the earnings release and other matters we may discuss in today's call will 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 mark-to-market adjustments from hedging activities, the expected contribution from our synthetic fuel facilities, significant impairments of intangible assets, certain severance costs, certain merger-related costs, potential and new accounting pronouncements and other items we view as unusual.
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