By Chris Wack

Exelon Corp. said it is affirming its guidance for fiscal 2021 after extreme cold weather conditions in February resulted in outages at the Texas-based generating assets of Exelon Generation Company LLC within the Electric Reliability Council of Texas.

Exelon said for the year, it expects adjusted earnings per share of $2.60 to $3. For the first quarter, Exelon estimates a loss of 30 cents a share and an adjusted loss of 6 cents a share. Analysts at FactSet are looking for adjusted earnings for the year of $2.80 a share. For the first quarter, analysts are looking for earnings of 34 cents a share, and adjusted earnings of 42 cents a share.

Exelon and Exelon Generation are increasing the full-year estimated loss from the February market and weather event by $150 million pretax, or $110 million after taxes. The estimated loss for the full year 2021 is $900 million to $1.1 billion pretax, or $670 million to $820 million after taxes.

Exelon said it expects to offset between $550 million and $650 million pretax, or $410 million and $490 million after taxes, of this loss impact for the full year 2021, primarily at Exelon Generation through a combination of enhanced revenue opportunities, deferral of selected non-essential maintenance, and primarily one-time cost savings.

Exelon and Exelon Generation see the first-quarter 2021 impact from the weather event to be a loss of $1.2 billion pretax, or $880 million after taxes.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

04-28-21 0833ET