The earnings call presented a generally positive outlook with strong operational performance, higher-than-expected earnings, and significant regulatory progress. However, challenges such as increased interest expenses, ongoing regulatory uncertainties, and issues within the PJM capacity market and colocation cost allocation temper the optimism.

Company Guidance

During Exelon's third-quarter earnings call for 2024, the company reported GAAP earnings of $0.70 per share and adjusted operating earnings of $0.71 per share, surpassing previous expectations. Exelon remains on track to achieve its annual operating earnings guidance of $2.40 to $2.50 per share. The company highlighted strong operational performance despite significant storm activity, maintaining top quartile performance across key safety, reliability, and customer satisfaction metrics. Exelon is advancing its regulatory agenda with settlements in PECO's gas and electric rate cases and progress on ComEd's multiyear rate plan. Additionally, 90% of Exelon's rate base will have established rates or known rate mechanisms in place through 2026 or 2027. The call also emphasized Exelon's commitment to a $9.7 billion capital plan for electric transmission investments through 2027, which includes modernizing the grid and enhancing resilience.

Higher Than Expected Earnings

Reported GAAP earnings of $0.70 per share and operating earnings of $0.71 per share, which were above expectations from the second quarter call.

Strong Operational Performance

Despite significant storm activity, delivered top quartile or better outage performance across the board.

Regulatory Progress

ComEd received its proposed order for its refiled multiyear rate plan, and settlements were reached in PECO gas and electric rate cases.

Transmission Project Progress

Delmarva Power's Vienna to Nelson 138 kV transmission line project is on track to be completed nearly 2 years ahead of schedule.

Financial Outlook

Reaffirmed guidance for operating earnings of $2.40 to $2.50 per share and long-term annualized operating earnings growth of 5% to 7% through 2027.

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Exelon Corp. (GB:0IJN) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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GB:0IJN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 02, 2018	2018 (Q2)	- / 0.51	0.385	31.43% (+0.12)	―	―
Nov 01, 2018	2018 (Q3)	- / 0.63	0.606	3.63% (+0.02)	―	―
Feb 08, 2019	2018 (Q4)	- / 0.41	0.392	5.61% (+0.02)	―	―
May 02, 2019	2019 (Q1)	- / 0.62	0.685	-9.49% (-0.07)	―	―
Aug 01, 2019	2019 (Q2)	- / 0.43	0.506	-15.42% (-0.08)	―	―
Oct 31, 2019	2019 (Q3)	- / 0.66	0.628	4.46% (+0.03)	―	―
Feb 11, 2020	2019 (Q4)	- / 0.59	0.414	43.00% (+0.18)	―	―
May 08, 2020	2020 (Q1)	- / 0.62	0.62	0.00% (0.00)	―	―
Aug 04, 2020	2020 (Q2)	- / 0.39	0.428	-8.41% (-0.04)	―	―
Nov 03, 2020	2020 (Q3)	- / 0.74	0.656	13.11% (+0.09)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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GB:0IJN Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 30, 2024	$39.20	$39.41	+0.54%
Aug 01, 2024	$36.47	$37.26	+2.16%
May 02, 2024	$36.75	$36.45	-0.82%
Feb 21, 2024	$33.59	$34.59	+2.97%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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