This move is a testament to ComEd's dedication to assisting residential, commercial, and industrial customers in fully utilizing solar energy, as well as its advancements in the adoption of distributed energy resources. Benefits for the Company The unit has completed 5,073 systems totaling 95.76 MW of capacity through May 2024, and received a record number of 8,273 new interconnection applications. These numbers show the benefits of climate legislation in Illinois as well as the growing interest of consumer ...

The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarter, more confident investor. The Zacks Style Scores, developed alongside the Zacks Rank, are complementary indicators that rate stocks based on three widely-followed investing methodologies; they also help investors pick stocks with the best chances of beating the market over the next 30 days ...

Group 1 - Hilco Redevelopment Partners (HRP) announced the appointment of founder and CEO Roberto E. Perez to the board of directors for PECO, Pennsylvania's largest electric and natural gas distribution company [1] - Perez has significant experience in land development and energy infrastructure, particularly through HRP's transformation of obsolete industrial assets, including the redevelopment of 1300 acres in South Philadelphia into The Bellwether District [2][4] - PECO's leadership expressed confidence in Perez's ability to diversify their approach to sustainable energy solutions, aligning with their commitment to community support and customer experience [3] Group 2 - Perez's leadership at HRP has led to a portfolio of significant redevelopment projects across the United States, including Tradepoint Atlantic in Baltimore and the former Potomac River Generating Station in Alexandria, Virginia [4][5] - HRP specializes in acquiring end-of-life industrial sites and transforming them into modern facilities, emphasizing economic, community, and environmental sustainability [7] - PECO, founded in 1881, serves nearly 1.7 million electric customers and over 548,000 natural gas customers in southeastern Pennsylvania, focusing on safe and reliable energy delivery [8]

Financial Performance - Exelon's net income attributable to common shareholders for Q1 2024 was $658 million, a decrease of $11 million compared to $669 million in Q1 2023[356]. - Diluted earnings per share decreased to $0.66 in Q1 2024 from $0.67 in Q1 2023, primarily due to higher interest expenses and storm costs[357]. - Adjusted (non-GAAP) operating earnings for Q1 2024 were $685 million, down from $696 million in Q1 2023, reflecting a decrease in operational performance[364]. - ComEd's net income for Q1 2024 decreased by $48 million (19.9%) to $193 million, primarily due to lower electric distribution earnings[381]. - PECO's net income for Q1 2024 decreased by $17 million (10.2%) to $149 million, driven by higher storm costs and increased interest expense[393]. - Net income for BGE increased by $64 million to $264 million in Q1 2024, driven by favorable impacts from multi-year plans[407]. - DPL's net income for the three months ended March 31, 2024, was $66 million, an increase of $6 million from $60 million in 2023, driven by higher Delaware electric distribution rates[440]. Revenue and Expenses - ComEd's operating revenues for Q1 2024 were $2.095 billion, an increase of $428 million (25.7%) compared to Q1 2023[381]. - PECO's operating revenues for Q1 2024 were $1.054 billion, a decrease of $58 million (5.2%) compared to Q1 2023, attributed to increased operating expenses[393]. - Operating revenues for BGE rose by $40 million to $1,297 million in Q1 2024 compared to $1,257 million in Q1 2023[407]. - Pepco's operating revenues for the three months ended March 31, 2024, were $759 million, an increase of $49 million from $710 million in 2023[425]. - DPL's operating revenues for the three months ended March 31, 2024, were $491 million, reflecting a $17 million increase from $474 million in 2023[440]. - Total operating expenses for Pepco increased to $640 million for the three months ended March 31, 2024, up from $610 million in 2023, reflecting a $30 million increase[425]. - Operating and maintenance expenses for BGE increased by $42 million in Q1 2024, largely due to storm-related costs and regulatory required programs[416]. Regulatory and Compliance - Exelon is currently involved in regulatory proceedings that may impact future financial statements, including base rate cases and FERC audits[363]. - ComEd's completed distribution base rate case proceedings included a requested revenue requirement increase of $1.487 billion, with an approved increase of $501 million effective January 1, 2024[366]. - The increase in operating revenues for DPL included a $21 million rise from regulatory required programs, despite a $28 million decrease in other regulatory programs[441]. - Distribution revenue increased due to higher electric distribution rates effective July 2023 and Maryland's multi-year plan effective January 2024[450]. Customer Growth - The number of electric customers increased to 1,341,840 in Q1 2024 from 1,336,321 in Q1 2023, reflecting a growth in residential and commercial segments[409]. - The total number of electric customers increased to 946,982 as of March 31, 2024, up from 936,355 in 2023, representing a growth of approximately 1.3%[427]. - The number of natural gas customers for BGE grew to 703,136 in Q1 2024 from 701,104 in Q1 2023[410]. - The number of Delaware natural gas customers rose to 140,788 in 2024, up from 140,123 in 2023, reflecting an increase in residential customers to 130,427[448]. - The total number of electric customers for ACE increased to 572,118 in 2024, up from 569,246 in 2023[461]. Capital and Investment - Projected capital expenditures for 2024 total $7,425 million, with ComEd contributing $2,150 million, PECO $1,700 million, and BGE $1,600 million[491]. - Capital expenditures for Exelon were $114 million, while ComEd reported $23 million in Q1 2024[480]. - Exelon has $858 million of common stock available for sale under its ATM equity distribution program as of December 31, 2023[488]. - The Registrants had $4.0 billion in total credit facility commitments, with $2.7 billion available for commercial paper as of March 31, 2024[486]. Interest and Tax Rates - The marginal statutory income tax rates for 2024 and 2023 ranged from 24.0% to 29.0%, affecting the reconciliation of GAAP net income and adjusted operating earnings[361]. - Effective income tax rates for ComEd were 9.0% for Q1 2024, down from 22.8% in Q1 2023[391]. - Effective income tax rates for BGE were 8.3% in Q1 2024, down from 20.6% in Q1 2023[419]. - The effective income tax rates were 15.7% for the three months ended March 31, 2024, compared to 15.6% in 2023[438]. - The effective income tax rate for the three months ended March 31, 2024, was 20.5%, compared to 16.7% in 2023[456]. Debt and Financing - Short-term borrowings increased by $963 million for Exelon and $296 million for ComEd in Q1 2024[482]. - Long-term debt decreased by $1,344 million for Exelon and $975 million for ComEd in Q1 2024[482]. - Exelon has entered into 20-year floating-to-fixed renewable energy swap contracts to hedge against commodity price risk[514]. - Exelon utilizes hedging programs to mitigate exposure to energy and natural gas price volatility, with costs fully recovered through regulatory-approved mechanisms[511]. - The Registrants' outstanding long-term debt is primarily fixed-rate, significantly reducing interest rate risk[515]. Operational Efficiency - Cash flows from operating activities increased by $508 million for Exelon and $672 million for ComEd in Q1 2024 compared to the same period in 2023[476]. - Non-cash operating activities adjustments totaled $129 million for Exelon and $115 million for ComEd in Q1 2024[476]. - Energy efficiency spending for ComEd was $80 million in Q1 2024, compared to $72 million in Q1 2023[478].

Exelon Corporation (NASDAQ:EXC) Q1 2024 Earnings Conference Call May 2, 2024 10:00 AM ET Company Participants Andrew Plenge - VP, IR Calvin Butler - CEO, President and Director Jeanne Jones - EVP and CFO David Velazquez - EVP, Utility Operations and Technology Michael Innocenzo - President, PECO Gil Quiniones - CEO, ComEd Conference Call Participants Aidan Kelly - JPMorgan Securities LLC Carly Davenport - Goldman Sachs Operator Hello, and welcome to Exelon's first quarter earnings call. My name is Gigi, and ...

Exelon Corporation’s (EXC) first-quarter 2024 earnings of 69 cents per share missed the Zacks Consensus Estimate of 70 cents by 1.43%. Earnings also decreased from the year-ago level of 70 cents.On a GAAP basis, first-quarter earnings were 66 cents per share compared with 67 cents in the year-ago quarter.Total RevenuesExelon's first-quarter revenues of $6.04 billion surpassed the Zacks Consensus Estimate of $5.7 billion by 6%. The top line was 8.6% higher than the year-ago figure of $5.6 billion. Highlights ...

Exelon (EXC) came out with quarterly earnings of $0.69 per share, missing the Zacks Consensus Estimate of $0.70 per share. This compares to earnings of $0.70 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -1.43%. A quarter ago, it was expected that this energy company would post earnings of $0.58 per share when it actually produced earnings of $0.60, delivering a surprise of 3.45%.Over the last four quarters, the company has ...

1 Exhibit 99.1 News Release Contact: James Gherardi Corporate Communications 312-394-7417 Andrew Plenge Investor Relations 312-394-2345 EXELON REPORTS FIRST QUARTER 2024 RESULTS Earnings Release Highlights CHICAGO (May 2, 2024) — Exelon Corporation (Nasdaq: EXC) today reported its financial results for the first quarter of 2024. "Through the first quarter, Exelon is on track for another year of operational excellence while delivering on our financial guidance," said President and CEO Calvin Butler. "We are ...

Exelon Corporation (EXC) is scheduled to release first-quarter 2024 results on May 2, before market open. The company delivered an earnings surprise of 3.5% in the last reported quarter.Let’s discuss the factors that are likely to be reflected in the upcoming quarterly results.Factors to ConsiderExelon’s first-quarter earnings are expected to have continued to benefit from its reduction in volumetric risk, as nearly 76% of its distribution revenues are decoupled.New distribution rates that were implemented ...

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.It also includes access to the Zacks Style Scores.What are the Zacks Style Scores?The Zacks Style Sco ...