Exelon Corporation Q4 FY2022 Earnings Call
· Earnings call transcript and AI-powered summary
Key Highlights
- Exelon reported 2022 adjusted operating earnings of $2.27 per share, exceeding the midpoint of guidance by $0.02 and representing 8.1% growth compared to the 2021 guidance midpoint.
- Fourth quarter 2022 GAAP and non‑GAAP earnings were $0.43 per share.
- 2022 GAAP full‑year earnings were $2.08 per share.
- Three of Exelon’s four utilities delivered best-ever operating performance in 2022.
- Earned ROE was 9.4% in 2022, the highest since 2019 and within the 9%–10% target range.
Operational Performance
- Top-decile outage frequency across three of four utilities and top‑quartile outage duration across all utilities.
- Significant storm response performance during Winter Storm Elliott, restoring power to 112,000 BGE customers.
- Continued strong customer satisfaction with top‑quartile performance at BGE, ComEd and PECO.
- Gas odor response times remained top decile, with BGE achieving a best-on-record year.
Strategic and Regulatory Developments
- Successful completion of the corporate separation from Constellation within one year.
- ComEd filed its first multiyear rate and grid plans under the Illinois Climate and Equitable Jobs Act after extensive stakeholder engagement.
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