Exelon Corp. reports drop in 2Q net income as cost of nuclear energy rises

Exelon 2Q earnings slump as fuel costs rise

NEW YORK — Exelon Corp. says its second-quarter income dropped 32 percent as fuel costs for its fleet of nuclear power plants increased.

The Chicago utility, which powers customers in northern Illinois and southern Pennsylvania, on Thursday reported earnings of $445 million, or 67 cents per share, for the three months ended June 30. That compares with earnings of $657 million, or 99 cents per share, in the same period last year.

Revenue rose to $4.4 billion from $4.14 billion.

Excluding certain items, Exelon earned 99 cents per share. Analysts had expected earnings of 91 cents for the quarter on revenue of $4.19 billion.

Exelon serves about 5.4 million customers and operates the nation’s largest fleet of nuclear power plants.