Earnings summaries and quarterly performance for EXELON.
Executive leadership at EXELON.
Calvin G. Butler, Jr.
Detailed
President and Chief Executive Officer
CEO
CK
Carim Khouzami
Detailed
Executive Vice President, Transmission and Development
CD
Colette D. Honorable
Detailed
Chief Legal Officer and Corporate Secretary
CM
Cynthia McCabe
Detailed
Chief Communications Officer
DG
David Glockner
Detailed
Executive Vice President, Compliance, Audit and Risk
DG
Denise Galambos
Detailed
Chief People and Equity Officer
JJ
Jeanne Jones
Detailed
Executive Vice President and Chief Financial Officer
MB
Michael Brooks
Detailed
Chief Information Officer
MI
Michael Innocenzo
Detailed
Executive Vice President and Chief Operating Officer
SE
Sunny Elebua
Detailed
Chief Strategy and Sustainability Officer
TO
Tamla Olivier
Detailed
President and Chief Executive Officer, BGE (an Exelon company)
Board of directors at EXELON.
Research analysts who have asked questions during EXELON earnings calls.
Nicholas Campanella
Barclays
7 questions for EXC
Also covers: AEE, AEP, AES +33 more
PZ
Paul Zimbardo
Jefferies Financial Group Inc.
6 questions for EXC
Also covers: ATO, AWK, CEG +11 more
DA
David Arcaro
Morgan Stanley
5 questions for EXC
Also covers: AEP, AES, ATO +35 more
SP
Shahriar Pourreza
Guggenheim Partners
4 questions for EXC
Also covers: AEE, AEP, AVA +29 more
Julien Dumoulin-Smith
Jefferies
3 questions for EXC
Also covers: AEE, AEP, AES +60 more
AC
Anthony Crowdell
Mizuho Financial Group
2 questions for EXC
Also covers: AEE, AEP, AES +30 more
Carly Davenport
Goldman Sachs
2 questions for EXC
Also covers: AEE, AEP, D +14 more
JT
Jeremy Tonet
JPMorgan Chase & Co.
2 questions for EXC
Also covers: AEE, AEP, AM +46 more
SP
Shar Pourreza
Wells Fargo
2 questions for EXC
Also covers: AEP, CNP, DTE +7 more
Steve Fleishman
Wolfe Research, LLC
2 questions for EXC
Also covers: AEP, CEG, CNP +15 more
Steven Fleishman
Wolfe Research
2 questions for EXC
Also covers: AEP, CEG, CNP +18 more
DC
Durgesh Chopra
Evercore ISI
1 question for EXC
Also covers: AEE, AEP, AES +22 more
JK
James Kennedy
Marathon Microfinder
1 question for EXC
Also covers: CLIR, D, ES +2 more
Ross Fowler
Bank of America
1 question for EXC
Also covers: AEP, BKH, D +11 more
William Appicelli
UBS
1 question for EXC
Also covers: AEE, AEP, CMS +10 more
Recent press releases and 8-K filings for EXC.
Exelon issues $775M of 4.950% notes due 2036
EXC
Debt Issuance
- Exelon Corporation issued $775 million aggregate principal of 4.950% Notes due 2036, maturing March 15, 2036, with interest payable semi-annually beginning September 15, 2026.
- Net proceeds, together with available cash, will retire $750 million of 3.400% Notes due 2026 at maturity; remaining funds for general corporate purposes.
- Notes were priced at 99.611% of par, yielding 4.999% to maturity (92 bps over the 4.125% February 2036 U.S. Treasury).
- Joint bookrunners: BNP Paribas Securities Corp., Morgan Stanley & Co. LLC, and Wells Fargo Securities, LLC.
7 days ago
Exelon and NextEra welcome PJM approval of 765-kV transmission line
EXC
New Projects/Investments
- Exelon and NextEra Energy Transmission received PJM Board approval for a ~220-mile, 765-kV transmission line to improve electric reliability and affordability in West Virginia, Pennsylvania and the Mid-Atlantic region.
- The project addresses rising electricity demand by adding capacity, enabling new generation connections, and supporting long-term grid stability and affordability for families and businesses.
- Exelon EVP Carim Khouzami highlighted the investment’s role in meeting demand growth while keeping customer costs low, and NextEra underscored job creation and economic development benefits.
- Next steps include transparent community engagement with open houses to minimize landowner and community impacts as construction advances.
Feb 13, 2026, 9:09 PM
Exelon reports Q4 2025 earnings and updates 2026 guidance
EXC
Earnings
Guidance Update
New Projects/Investments
- Exelon delivered FY 2025 GAAP EPS of $2.73 and adjusted EPS of $2.77 (Q4: GAAP $0.58; non-GAAP $0.59), exceeding guidance due to favorable weather and regulatory resolutions.
- 2026 operating earnings guidance set at $2.81–$2.91 per share, with Q1 expected to deliver ~31% of the midpoint, supported by ~8% rate base growth and targeted 9%–10% ROE.
- A $41.3 billion capital plan for 2026–2029 (+9% vs. prior period) includes $10 billion in 2026, with over 70% allocated to transmission investments to support load growth and resiliency.
- Financial strategy includes $1 billion of convertible debt issued, funding the $41.3 billion plan via $22 billion internal cash, $16 billion debt, and limited equity (~40%); credit metrics at 13.5%, above downgrade thresholds.
Feb 12, 2026, 3:00 PM
Exelon reports Q4 2025 earnings and guidance
EXC
Earnings
Guidance Update
- Exelon delivered FY 2025 adjusted operating EPS of $2.77, exceeding the $2.64–$2.74 guidance and reflecting 7.4% growth since 2021.
- Q4 2025 adjusted operating EPS was $0.59 per share versus GAAP EPS of $0.58.
- The company met operational targets with $9.3 B of capital deployed, top-quartile performance, and a 9.7% operating ROE, alongside key rate case approvals.
- Exelon initiated 2026 adjusted operating EPS guidance of $2.81–$2.91, targeting a near top-end 5-7% EPS CAGR through 2029, supported by a $41.3 B capital plan and 7.9% rate base growth.
Feb 12, 2026, 3:00 PM
Exelon reports Q4 2025 results and 2026 guidance
EXC
Earnings
Guidance Update
New Projects/Investments
- Adjusted 2025 EPS of $2.77 non-GAAP (full year) and Q4 EPS of $0.59, both above expectations; 2026 operating EPS guidance of $2.81–$2.91 per share
- $41.3 billion capital plan for 2026–2029 (including $10 billion in 2026), driving ~8% rate base growth with targeted 9–10% ROE
- Regulatory milestones achieved: final settlements for Atlantic City Electric and Delmarva Gas rate cases, ComEd’s multi-year grid plan filed, and $1.2 billion of incremental PJM transmission awards
- $1 billion convertible debt issued in December and maintaining ~40% equity funding; 2026 dividend set at $1.68 per share
Feb 12, 2026, 3:00 PM
Exelon reports Q4 2025 earnings and guidance
EXC
Earnings
Guidance Update
New Projects/Investments
- Exelon delivered full-year 2025 adjusted operating EPS of $2.77 and Q4 non-GAAP EPS of $0.59.
- The company initiated 2026 operating earnings guidance of $2.81–$2.91 per share, reflecting midpoint-to-midpoint growth above 6%.
- Exelon plans $41.3 billion of utility capital investment through 2029—over 70% in transmission—driving 7.9% rate base CAGR and 5%–7% annualized EPS growth through 2029.
- Key regulatory milestones include settlements for Atlantic City Electric ($54 million at 9.6% ROE) and Delmarva Gas ($21.5 million at 9.6% ROE), filing of ComEd’s multi-year grid plan, and an expected Pepco MD order in August 2026.
- Exelon projects a $1.68 per share dividend in 2026, implying 5% annual dividend growth.
Feb 12, 2026, 3:00 PM
Exelon reports Q4 2025 results and 2026 outlook
EXC
Earnings
Guidance Update
New Projects/Investments
- Exelon’s Q4 GAAP EPS was $0.58 and Adjusted (non-GAAP) operating EPS was $0.59, down from $0.64 in Q4 2024.
- Full-year 2025 GAAP EPS was $2.73 and Adjusted operating EPS was $2.77, up from $2.45 and $2.50 in 2024.
- For 2026, Exelon expects Adjusted operating EPS of $2.81–$2.91, representing over 6% growth from 2025.
- The company plans $41.3 billion of capital expenditures over 2026–2029, targeting 7.9% rate base growth and a 5–7% operating EPS CAGR through 2029.
- Exelon’s updated four-year financing plan includes $3.4 billion of equity (≈40% of incremental capex) and ~$3 billion of new corporate debt to support investments.
Feb 12, 2026, 12:00 PM
Exelon reports Q4 and full-year 2025 results and 2026 outlook
EXC
Earnings
Guidance Update
New Projects/Investments
- Delivered GAAP net income of $0.58 per share and Adjusted operating earnings of $0.59 per share in Q4 2025, driving full-year GAAP net income of $2.73 per share and Adjusted operating earnings of $2.77 per share
- Initiated 2026 Adjusted operating earnings guidance of $2.81–$2.91 per share, implying over 6% growth from 2025
- Announced a $41.3 billion four-year capital expenditure plan to support customer needs and grid reliability, targeting 7.9% rate base growth and 5–7% operating EPS CAGR from 2025–2029
- Updated four-year financing strategy to include $3.4 billion of equity (≈40% of incremental capital), with $850 million of annualized equity needs and 82% of 2026 equity priced under forwards
- All utilities achieved first-quartile SAIDI performance (ComEd in the top decile) and the company provided $60 million in direct customer assistance through its Customer Relief Fund
Feb 12, 2026, 11:50 AM
Exelon reports strong 2025 results and raises dividend
EXC
Earnings
Guidance Update
Dividends
- Exelon delivered adjusted operating EPS of $2.77 in 2025, beating the midpoint of guidance for the fourth consecutive year, driven by 8% rate base growth and top-quartile reliability amid Winter Storm FERN.
- Management initiated 2026 EPS guidance of $2.81–$2.91 and outlined $41.3 billion in capital investments through 2029 with heavy transmission spending.
- The board raised its quarterly dividend 5% to $0.42, lifting the forward yield to about 3.51%, payable March 13, 2026 (ex-dividend March 2).
- Despite strong operations, balance-sheet metrics show elevated leverage (debt-to-equity 1.78) and an Altman Z-Score in the distress zone.
- Shares jumped 6.7% on February 12 to close at $47.42, trading near the 52-week high on heavy volume.
Feb 11, 2026, 5:50 PM
Exelon report: utility-generated power could save customers up to $20B and slash outage risks
EXC
New Projects/Investments
- Independent analysis finds expanding utility-generated power in PJM can reduce customer supply costs by $9.6 – $20.0 billion in the 2028–2029 delivery year.
- The report projects an 85% reduction in expected unserved energy, markedly enhancing system reliability and lowering outage risks.
- Utility-generated, state-regulated generation is shown to stabilize prices, reduce exposure to volatile capacity markets, and better align resource planning with state policy objectives.
Feb 6, 2026, 4:03 PM
Quarterly earnings call transcripts for EXELON.
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