By Micah Maidenberg

Exelon Corp. said the major winter storm that hit Texas in February cut into its first-quarter profit.

The operator of utilities in Illinois, Maryland, Pennsylvania and elsewhere reported a net loss of $264 million, compared with a profit of $376 million for the year-earlier period.

The loss tied to common shares totaled 30 cents a share, down from earnings of 60 cents a share. Exelon also reported an adjusted loss of 6 cents a share for the first quarter.

Operating revenue rose to $9.89 billion from $8.75 billion.

Analysts predicted the company to report on adjusted profit of 36 cents a share on $8.38 billion revenue.

Winter storms in Texas and subsequent generation outages resulted in an operating loss of 90 cents a share, finance chief Joseph Nigro said.

"We expect to narrow some of that loss over the course of the year," he said.

The company has several generation facilities in Texas, including plants that powered by gas, wind and solar power, according to its most recent annual report.

Write to Micah Maidenberg at micah.maidenberg@wsj.com

(END) Dow Jones Newswires

05-05-21 0725ET