Exelon(US:EXC)2025-11-04 15:00Financial Performance - Q3 2025 GAAP Earnings per share (EPS) was $0.86, compared to $0.70 in Q3 2024[11] - Q3 2025 Adjusted Operating Earnings per share (EPS) was $0.86, compared to $0.71 in Q3 2024[11] - Exelon reaffirmed its 2025 EPS guidance of $2.64 - $2.74 per share, based on expected average outstanding shares of 1,013 million[11, 10] - Exelon reaffirmed its 2024-2028 EPS Compound Annual Growth Rate (CAGR) of 5-7%, with expectations to be at the midpoint or better[11] Regulatory and Operational Updates - Exelon utilities rank among the most reliable in the country, holding the 1st, 2nd, 4th, and 7th positions[11] - ACE and DPL DE Gas rate cases remain on track, while Pepco MD filed a distribution rate case[11] - The large load pipeline is increasing to over 19 GW, with potential upside, while solutions to protect all customers, such as Transmission Security Agreements, remain in focus[11] - Exelon is advocating for resource adequacy solutions that ensure reliable transmission and cost-effective supply while meeting growing demand and state policy goals[11] Capital Investment and Growth - Exelon has a 7.4% rate base growth resulting from $38 billion of capital investment, with a potential $10-15 billion of transmission opportunity beyond the plan[11] - Nearly half of equity needs through 2028 are priced for issuance[11] Financial Flexibility and Credit Metrics - Exelon maintains meaningful financial flexibility over downgrade thresholds, which is expected to strengthen over the planning horizon, with further upside from targeted operating levers[20] - Exelon established a $2.5 billion At-The-Market (ATM) program on May 2, 2025, effective through May 2, 2028[23]