Exelon Corp

Latest Results (17.12.2024):

Net Income and Earnings

Exelon Corp reported its financial results for the third quarter of 2024, with a GAAP net income of $0.70 per share. The company's Adjusted (non-GAAP) operating earnings were slightly higher at $0.71 per share, reflecting an increase from $0.67 per share in the same quarter of the previous year. This improvement was primarily driven by higher utility earnings due to distribution rate increases and decreased storm costs.

Revenue and Growth Outlook

Exelon Corp reaffirmed its full-year 2024 Adjusted (non-GAAP) operating earnings guidance range of $2.40 to $2.50 per share. The company also maintained its long-term earnings per share growth target of 5-7% compounded annually through 2027. This outlook is supported by Exelon's ongoing investments in energy infrastructure, totaling $34.5 billion, aimed at enhancing reliability and service for customers.

Utility Performance

Exelon Corp's utilities demonstrated strong reliability performance in the third quarter of 2024, with all utilities achieving top quartile reliability. Notably, ComEd and Pepco Holdings continued to perform in the top decile for SAIFI and SAIDI metrics. This performance underscores the company's commitment to maintaining high service standards despite challenging weather conditions.

Dividend Announcement

On October 29, 2024, Exelon Corp's Board of Directors declared a regular quarterly dividend of $0.38 per share on its common stock. This dividend is scheduled to be paid on December 13, 2024, to shareholders of record as of November 11, 2024, reflecting the company's ongoing commitment to returning value to its shareholders.

Rate Case Developments

In September 2024, DPL, a subsidiary of Exelon Corp, filed a natural gas distribution rate case with the Delaware Public Service Commission. The application seeks to increase annual natural gas rates by $36 million, with an expected decision in the first quarter of 2026. This rate case is part of Exelon's strategy to support infrastructure investments and ensure safety and reliability for its customers.