Core Viewpoint - Exelon has seen a 1.2% increase in share price since the last earnings report, outperforming the S&P 500, raising questions about the sustainability of this trend leading up to the next earnings release [1]. Earnings Estimates - Estimates for Exelon have remained flat over the past two months, indicating stability in expectations [2]. VGM Scores - Exelon has an average Growth Score of C, a Momentum Score of B, and a Value Score of C, placing it in the middle 20% for the value investment strategy. The aggregate VGM Score for the stock is B, which is relevant for investors not focused on a single strategy [3]. Outlook - Exelon holds a Zacks Rank of 3 (Hold), suggesting an expectation of in-line returns from the stock in the upcoming months [4]. Industry Performance - Exelon is part of the Zacks Utility - Electric Power industry. WEC Energy Group, another player in the same industry, has gained 1.3% over the past month. WEC Energy reported revenues of $2.28 billion for the last quarter, reflecting a year-over-year increase of 3%, with EPS rising from $1.10 to $1.43 [5]. - WEC Energy is projected to post earnings of $2.27 per share for the current quarter, indicating a year-over-year growth of 15.2%. The Zacks Consensus Estimate for WEC Energy has seen a slight increase of 0.2% over the last 30 days, and it also holds a Zacks Rank of 3 (Hold) [6].

Core Viewpoint - Exelon Corporation is focusing on strengthening its transmission and distribution infrastructure to meet rising customer demand while maintaining stable operations and generating steady cash flow to reward shareholders [1] Group 1: Investments and Growth - Exelon plans to invest nearly $38 billion during the 2025-2028 period in regulated utility operations for grid modernization and infrastructure resilience [2] - The company will allocate $21.7 billion for electric distribution, $12.6 billion for electric transmission, and $3.8 billion for gas delivery during the same period, supporting a rate base growth of 7.4% through 2028 [3] - Exelon targets long-term earnings per share (EPS) growth of 5-7% through 2028 [3] Group 2: Customer Benefits - Exelon serves over 10 million customers, who benefit from tax reforms, energy efficiency programs, and ongoing cost-saving initiatives [4] - The company manages expenses efficiently, keeping costs below the rate of inflation, which further benefits customers [4] - Approximately 78% of Exelon's distribution revenues are decoupled, insulating the company from load fluctuations and leading to stable earnings [5] Group 3: Industry Challenges - Emerging technologies may disrupt the energy industry and affect energy delivery structures, potentially lowering demand for Exelon's services [6] - Failures in equipment or facilities could interrupt electric and gas delivery, resulting in revenue loss and increased maintenance costs [7]

Group 1: Momentum Investing Overview - Momentum investing involves following a stock's recent trend, with the strategy of buying high and selling higher, capitalizing on established price movements [1] - The Zacks Momentum Style Score helps investors identify stocks with momentum by focusing on key metrics [2] Group 2: Exelon (EXC) Performance - Exelon currently holds a Momentum Style Score of B and a Zacks Rank of 2 (Buy), indicating strong potential for outperformance [3][4] - Over the past week, Exelon shares increased by 1.87%, outperforming the Zacks Utility - Electric Power industry, which rose by 1.06% [6] - In the last quarter, Exelon shares rose by 16.43%, significantly outperforming the S&P 500, which declined by 5.43% during the same period [7] Group 3: Trading Volume and Earnings Outlook - Exelon's average 20-day trading volume is 8,302,144 shares, indicating strong market interest [8] - Recent earnings estimate revisions show a positive trend, with 3 estimates moving higher and the consensus estimate increasing from $2.63 to $2.64 [10] - For the next fiscal year, 4 estimates have moved upwards with no downward revisions, suggesting a favorable earnings outlook [10] Group 4: Conclusion - Given the positive momentum indicators and earnings outlook, Exelon is positioned as a strong buy candidate for investors seeking short-term opportunities [11]

Group 1 - The article reflects on the S&P 500's performance five years after the significant 34% decline due to COVID-19, highlighting that many investors initially believed equities would recover quickly [1] - February 19, 2020, is noted as a day when investors were optimistic about the market's resilience against the emerging pandemic [1] Group 2 - The author emphasizes the importance of creating engaging financial content that is accessible and measurable, focusing on thematic investing and market events [1] - The narrative aims to relate to everyday investors by analyzing various market sectors, economic data, and conditions [1]

Investment and Financial Performance - Exelon plans to invest approximately $38 billion over the next four years in electric and natural gas infrastructure improvements, which is projected to increase the current rate base by approximately $20 billion by the end of 2028[66]. - Exelon reported a significant increase in revenue, reaching $15.2 billion for the fiscal year, representing a 10% year-over-year growth[112]. - The company achieved a net income of $2.1 billion, which is a 12% increase compared to the previous year[112]. - Exelon plans to invest $3 billion in renewable energy projects over the next five years, aiming for a 30% reduction in greenhouse gas emissions by 2030[120]. - The company has outlined a performance guidance for the next fiscal year, projecting earnings per share (EPS) in the range of $3.00 to $3.20[112]. - Exelon is actively pursuing strategic acquisitions to enhance its service offerings, with a target of completing at least two acquisitions by the end of 2025[120]. Environmental Commitment and Emissions Reduction - Exelon aims to collectively reduce its operations-driven GHG emissions by 50% by 2030 against a 2015 baseline and achieve net-zero operations-driven GHG emissions by 2050[67]. - Exelon's Scope 1 and 2 GHG emissions in 2023 were just over 5.3 million metric tons CO2 equivalent, with 0.4 million metric tons being operations-driven emissions[85]. - Approximately 92% of Exelon's emissions are indirect, primarily from electric transmission and distribution losses, totaling around 4.9 million metric tons CO2 equivalent[85]. - The estimated investment in customer energy efficiency programs across Utility Registrants from 2025 to 2028 is $4.9 billion[86]. - Exelon is committed to supporting public policy for vehicle electrification and clean energy initiatives to reduce GHG emissions[87]. - Exelon plans to electrify 30% of its vehicle fleet by 2025, increasing to 50% by 2030[87]. Operational Excellence and Customer Engagement - Exelon focuses on maintaining operational excellence and meeting financial commitments while supporting clean energy policies that advance clean energy targets[63]. - Exelon is committed to enhancing customer experience and advancing clean and affordable energy choices while ensuring fair financial returns through ratemaking mechanisms[64]. - Exelon is committed to enhancing customer engagement through digital platforms, aiming for a 20% increase in customer satisfaction scores by the end of the next fiscal year[120]. - User data showed a 5% increase in customer accounts across all subsidiaries, totaling approximately 10 million customers[112]. - The average turnover rate for Exelon employees from 2022 to 2024 is 2.80% for retirement, 3.00% for voluntary, and 1.00% for non-voluntary[76]. Regulatory and Compliance Challenges - The company is subject to comprehensive environmental legislation and regulation at various levels, impacting its operations and compliance strategies[80]. - The Registrants are subject to significant risks from legal proceedings, which could result in lost revenue or increased expenditures[124]. - The Deferred Prosecution Agreement and SEC settlement could adversely impact Exelon's and ComEd's reputation and relationships with stakeholders, affecting operational approvals[126][127]. - The company has identified regulatory compliance as a key risk factor, which could impact future earnings if not managed effectively[113]. Risks and Challenges - The Registrants face increasing cybersecurity risks, with potential impacts on operations and financial condition due to sophisticated attacks[130][132]. - Extreme weather events and natural disasters could negatively affect the Registrants' operations and capital expenditures, leading to increased costs[134]. - The Registrants' operations are capital intensive, requiring significant investments, and disruptions in supply chains could materially impact capital projects[140]. - Insufficient third-party power generation capacity could lead to service interruptions and financial impacts for the Registrants[141][142]. - Transmission congestion and failures in neighboring systems could strain the Registrants' ability to deliver electricity and comply with reliability standards[143]. - The Registrants face potential operational challenges and increased costs due to workforce issues, including employee strikes and skill mismatches, which could lead to higher training and productivity loss costs[146]. - Poor performance by third-party contractors could adversely impact capital execution plans and operations, leading to financial and reputational consequences[147]. - The Utility Registrants are exposed to risks from new business initiatives like smart grids, which may not achieve intended financial results due to regulatory and technological challenges[148]. - Economic downturns and increased customer rates may lead to higher uncollectible customer balances, negatively affecting revenues for the Utility Registrants[156]. - Weather conditions significantly influence electricity and natural gas demand, with extreme weather potentially increasing maintenance costs and limiting capacity to meet peak demand[158]. - The Registrants rely on capital markets for liquidity, with approximately 17% of available credit facilities tied to European banks, exposing them to global market disruptions[152]. - A downgrade in credit ratings could require the Registrants to provide significant collateral, adversely affecting liquidity and increasing borrowing costs[153]. - The Registrants could incur substantial costs due to non-performance by third parties under indemnification agreements, impacting financial stability[165]. - Changes in market performance could decrease the value of employee benefit plan assets, increasing funding requirements for pension and OPEB plans[168].

February 12, 2025 Earnings Conference Call Fourth Quarter 2024 Cautionary Statements Regarding Forward-Looking Information This presentation contains certain forward-looking statements within the meaning of federal securities laws that are subject to risks and uncertainties. Words such as "could," "may," "expects," "anticipates," "will," "targets," "goals," "projects," "intends," "plans," "believes," "seeks," "estimates," "predicts," "should," and variations on such words, and similar expressions that refle ...

Exelon Corporation. (NASDAQ:EXC) Q4 2024 Earnings Conference Call February 12, 2025 10:00 AM ET Company Participants Andrew Plenge - Vice President, Investor Relations Calvin Butler - President and Chief Executive Officer Jeanne Jones - Chief Financial Officer Colette Honorable - Executive Vice President, Public Policy and Chief External Affairs Officer Michael Innocenzo - Chief Operating Officer Carim Khouzami - President and CEO of Baltimore Gas & Electric Company David Velazquez - President & CEO of PECO ...

Exelon Corporation’s (EXC) fourth-quarter 2024 earnings of 64 cents per share surpassed the Zacks Consensus Estimate of 59 cents by 8.5%. The figure also increased from the year-ago level of 60 cents per share. Higher distribution and transmission rate increases at Pepco Holdings LLC boosted year-over-year earnings.Find the latest earnings estimates and surprises on Zacks Earnings Calendar.On a GAAP basis, earnings were 64 cents per share, which increased 3.2% from the year-ago quarter’s 62 cents.Adjusted e ...

Exelon (EXC) came out with quarterly earnings of $0.64 per share, beating the Zacks Consensus Estimate of $0.59 per share. This compares to earnings of $0.60 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 8.47%. A quarter ago, it was expected that this energy company would post earnings of $0.67 per share when it actually produced earnings of $0.71, delivering a surprise of 5.97%.Over the last four quarters, the company has s ...

Financial Performance - Exelon reported GAAP net income of $0.64 per share for Q4 2024, up from $0.62 per share in Q4 2023, and full-year GAAP net income of $2.45 per share, an increase from $2.34 per share in 2023[5][6]. - Adjusted (non-GAAP) operating earnings for Q4 2024 were $0.64 per share, compared to $0.60 per share in Q4 2023, with full-year adjusted earnings at $2.50 per share, up from $2.38 per share in 2023[5][6]. - Full year 2024 GAAP net income was $2.45 per diluted share, totaling $2,460 million, while adjusted operating earnings increased to $2.50 per diluted share, totaling $2,507 million[17]. - For the full year 2023, GAAP net income was $2.34 per diluted share, totaling $2,328 million, with adjusted operating earnings at $2.38 per diluted share, totaling $2,377 million[18]. - Net income for the twelve months ended December 31, 2024, increased to $2,460 million, up from $2,328 million in 2023, representing a growth of 5.6%[41]. - The change in net income from 2023 to 2024 showed a decrease of $30 million, with specific segments experiencing varied performance[33]. Revenue and Customer Metrics - Operating revenues for the three months ended December 31, 2024, increased to $5,471 million, compared to $5,368 million in the same period of 2023, reflecting a growth of 1.9%[31]. - Total electric revenues for 2024 increased by 2.5% year-over-year to $84,333 million, with residential electric revenues rising by 6.8% to $3,809 million[57]. - The number of residential electric customers decreased slightly from 3,744,213 in 2023 to 3,727,097 in 2024, while small commercial & industrial customers increased from 391,675 to 396,797[57]. - Total electric revenues increased by 2.0% to $8,374 million in Q4 2024 compared to $8,209 million in Q4 2023[61]. - Total natural gas revenues rose by 2.4% to $25,822 million in Q4 2024 from $25,217 million in Q4 2023[61]. - The number of electric customers decreased slightly to 1,702,465 in 2024 from 1,705,719 in 2023[64]. - The number of natural gas customers increased marginally to 553,721 in 2024 from 552,834 in 2023[64]. Capital Expenditures and Investments - Exelon plans to invest $38 billion in capital expenditures over the next four years, a 10% increase from the prior plan, supporting a projected rate base growth of 7.4%[3]. - The updated financing plan includes $1.4 billion of additional equity to fund about 40% of $3.5 billion in incremental capital expenditures, resulting in annual equity needs of $700 million from 2025 to 2028[3]. - Capital expenditures decreased to $7,097 million in 2024 from $7,408 million in 2023, a reduction of 4.2%[41]. Dividends and Shareholder Returns - The company declared a quarterly dividend of $0.40 per share for Q1 2025, implying a total 2025 dividend payout of approximately 60% of adjusted operating earnings[3]. - Dividends paid on common stock increased to $1,524 million in 2024 from $1,433 million in 2023, an increase of 6.4%[41]. Operational Performance and Cost Management - The company plans to continue focusing on operational performance through adjusted (non-GAAP) operating earnings, which exclude certain costs and expenses[22]. - Environmental costs for 2024 were reported at $13 million, impacting adjusted earnings by $(0.01) per share[17]. - The company incurred a cost management charge of $13 million in 2024, affecting adjusted earnings by $0.01 per share[17]. - The change in FERC audit liability for 2024 resulted in an increase of $40 million, contributing $0.04 to adjusted earnings[17]. Debt and Liabilities - Long-term debt increased to $42,947 million as of December 31, 2024, compared to $39,692 million in 2023, reflecting a rise of 5.7%[38]. - The company’s total liabilities rose to $80,863 million as of December 31, 2024, compared to $76,101 million in 2023, an increase of 6.3%[38]. - The company reported a total asset increase to $107,784 million as of December 31, 2024, from $101,856 million in 2023, marking a growth of 5.8%[38]. Market Presence - Exelon serves over 10.7 million customers across six regulated utilities, emphasizing its market presence[21].