Exelon(EXC) ZACKS·2024-11-29 17:37Core Viewpoint - Exelon Corporation reported strong Q3 2024 earnings and revenues, exceeding estimates, and plans significant investments in energy infrastructure [2][4][12] Financial Performance - Q3 2024 earnings were 71 cents per share, surpassing the Zacks Consensus Estimate of 67 cents by 5.9% and increasing from 67 cents year-over-year [2] - Total revenues reached $6.15 billion, exceeding the Zacks Consensus Estimate of $6.06 billion by 1.4% and up 2.9% from $5.98 billion in the previous year [4] - Operating income was $1.19 billion, reflecting a 6.5% year-over-year increase [7] - Total operating expenses rose 2.14% year-over-year to $4.96 billion [6] - Interest expenses increased by 13.5% to $496 million compared to the previous year [8] Cash Flow and Debt - Cash and cash equivalents stood at $616 million as of September 30, 2024, up from $445 million at the end of 2023 [9] - Long-term debt increased to $43.7 billion from $39.7 billion at the end of 2023 [10] - Cash provided by operating activities for the first nine months of 2024 was $4.14 billion, compared to $3.29 billion in the same period last year [10] Future Guidance - Exelon expects earnings in the range of $2.40-$2.50 per share for 2024, with the Zacks Consensus Estimate at $2.44 per share [11] - The company reaffirms its adjusted operating EPS growth target of 5-7% annually through 2027 [11] - Plans to invest $34.5 billion in energy infrastructure from 2024 to 2027 [12] Industry Context - Exelon is part of the Zacks Utility - Electric Power industry, with Avangrid (AGR) reporting a 5.5% year-over-year revenue increase in its latest quarter [16] - Avangrid's expected earnings for the current quarter show a year-over-year decline of 36.1% [17]