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Exelon (EXC)
NASDAQ:EXC
Earnings Data
Report Date
May 06, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.86Last Year’s EPS
0.92Same Quarter Last Year
Based on 16 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized a strong operational and financial performance with clear, actionable growth plans—notably a $41.3 billion capital program, transmission opportunity pipeline, durable cost savings, and continued top-quartile reliability. Management provided constructive regulatory wins and set 2026 guidance above the prior midpoint, while also outlining a disciplined financing and credit plan. Key risks include partial recovery at BGE, supply-side affordability pressures, regulatory timing uncertainty across jurisdictions, financing cost sensitivity, and tax/legal clarity (CAMT). Overall, positive momentum and execution credibility outweigh the manageable regulatory and market headwinds, but these risks warrant monitoring.Company Guidance
Strong Full-Year and Quarterly Earnings
2025 GAAP EPS of $2.73 and adjusted (non-GAAP) operating EPS of $2.77; Q4 GAAP $0.58 and non-GAAP $0.59. Adjusted 2026 operating earnings guidance of $2.81 to $2.91 per share (midpoint-to-midpoint growth above 6% vs prior disclosures).
Consistent Multi-Year Growth Track Record
Since 2021 achieved a 7.4% annual earnings growth rate and delivered 8% rate base growth in 2025, underpinning confidence in forward guidance and long-term plan.
Large, Actionable Capital Plan with Transmission Focus
Updated four-year capital plan of $41.3 billion (a $3.3 billion or 9% increase vs prior four-year plan), with ~70% of the plan-over-plan increase (~$2.3 billion) driven by transmission. Expect to invest almost $10 billion in 2026 and project ~7.9% annualized rate base growth through 2029.
Robust Transmission Opportunity Pipeline
Line of sight to an additional $12–$17 billion of transmission opportunities over the next decade, $1.2 billion of incremental investment recommended in recent PJM window, and >$1 billion exposure in MISO Tranche 2.1; transmission rate base CAGR forecasted to grow over 15% from 2025 through guidance period.
Industry-Leading Operational Reliability
Utilities maintained top-quartile reliability (ranked 1, 2, 4 and 7 vs peers based on 2024 benchmarking), delivering top-quartile reliability for over a decade. During Winter Storm FERN fewer than 1% of customers experienced outages; nearly 11 million electric and gas customers served.
Cost Discipline and O&M Savings
Achieved approximately $580 million in annual O&M savings versus an inflation baseline, holding expense growth nearly flat from 2024 to 2026 and targeting ≤2.5% adjusted O&M growth through 2029.
Regulatory Milestones and Rate Case Outcomes
Closed final settlements: Atlantic City Electric settlement supporting recovery of ~$54 million at a 9.6% ROE (rates effective Dec 2025); Delmarva Gas settlement supporting a $21.5 million revenue requirement at 9.6% ROE (rates effective early 2026); final reconciliation orders at ComEd and BGE (partial recovery at BGE).
Customer Affordability and Economic Impact
Customers' utility portion of average bill as % of median income remained relatively flat since 2021 (up only 10 bps); customer bills 19%–20% below national averages. Since 2021: reduced annual customer interruptions by ~2 million, saved customers ~$1 billion in avoided outage costs last year, supported 20,000 jobs employed directly and sustained ~50,000 jobs, and drove nearly $60 billion in economic activity.
Balance Sheet Progress and Financing Plan
Issued $1 billion of convertible debt in December; plan to fund $41.3 billion with $22 billion internally generated cash, $13 billion utility debt, $3 billion holding company debt and modest equity. Equity policy ~40% implies $3.4 billion equity need over four years (~$850 million annually, <2% of market cap); $700 million of equity needs already priced in 2025 via ATM. Average credit metrics at year-end 2025 were 13.5%, ~150 bps above Moody’s 12% downgrade threshold, targeting ~14% over plan.
EXC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
EXC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 12, 2026 | $44.45 | $47.55 | +6.97% |
Nov 04, 2025 | $45.80 | $45.98 | +0.39% |
Jul 31, 2025 | $43.49 | $44.16 | +1.54% |
May 01, 2025 | $45.67 | $45.38 | -0.64% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Exelon (EXC) report earnings?
Exelon (EXC) is schdueled to report earning on May 06, 2026, Before Open (Confirmed).
What is Exelon (EXC) earnings time?
Exelon (EXC) earnings time is at May 06, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is EXC EPS forecast?
EXC EPS forecast for the fiscal quarter 2026 (Q1) is 0.86.
