Exelon Raises 2004 Estimates

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The electric and gas company projected 2004 operating earnings of between $2.75 and $2.90 per share. That's up from a July estimate of $2.68 to $2.83 a share.

Exelon says it expects to generate $3.7 billion in cash after capital expenditures and dividends from 2004 to 2006.

It plans to spend $2.7 billion to pay down debt, including $1.2 billion of debt associated with its Com-Ed utility this year.

Exelon says the remaining money will be available for increased dividends and share buybacks.