Exelon Corporation Q3 FY2025 Earnings Call

· Earnings call transcript and AI-powered summary

Quarter Overview

  • Exelon reported Q3 2025 adjusted operating earnings of $0.86 per share, up from $0.71 in Q3 2024. This $0.15 improvement was driven mostly by higher distribution and transmission rates and favorable storm conditions.
  • Management reaffirmed full-year 2025 earnings guidance of $2.64 to $2.74 per share, targeting the midpoint or better.
  • The company continues to expect annualized operating EPS growth of 5% to 7% through 2028.

Operational & Reliability Highlights

  • Exelon’s utilities ranked 1, 2, 4 and 7 in industry reliability benchmarking, improving from last year’s rankings of 1, 3, 5 and 8.
  • Strong performance attributed to effective grid investment and fast outage response; executives emphasized reliability as the company’s “North Star.”
  • Large-load interconnection demand continues to grow sharply, with 19 GW in the active pipeline and 47 GW in various stages of cluster studies.

Regulatory & Legislative Developments

  • Rate cases progressing at Delmarva Power (gas), Atlantic City Electric, and Pepco Maryland. Pepco’s October filing seeks a $133 million revenue increase supported by investments reducing long-term outage and O&M costs.

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Operator: Hello, and welcome to Exelon's Third Quarter Earnings Call. My name is Gigi, and I'll be your event specialist today. [Operator Instructions] Please note that today's webcast is being recorded. [Operator Instructions] It is now my pleasure to turn today's program over to Andrew Plenge, Vice President of Investor Relations. The floor is yours. Andrew Plenge: Thank you, Gigi, and good morning, everyone. Thank you for joining us for our 2025 third quarter earnings call. Leading the call today are Calvin Butler, Exelon's President and Chief Executive Officer; and Jeanne Jones, Exelon's Chief Financial Officer. Other members of Exelon's senior management team are also with us today, and they will be available to answer your questions following our prepared remarks. Today's presentation, along with our earnings release and other financial information can be found in the Investor Relations section of Exelon's website. We would also like to remind you that today's presentation and the associated earnings release materials contain forward-looking statements, which are subject to risks and uncertainties. You can find the cautionary statements on these risks on Slide 2 of today's presentation or in our SEC filings. In addition, today's presentation includes references to adjusted operating earnings and other non-GAAP measures. Reconciliations between these measures and the nearest equivalent GAAP measures can be found in the appendix of our presentation and in our earnings rel

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