Exelon Corporation Q2 FY2022 Earnings Call

· Earnings call transcript and AI-powered summary

Quarter Overview

  • GAAP EPS: $0.47; Adjusted (non-GAAP) EPS: $0.44. This compares to adjusted EPS of $0.36 in Q2 2021 (excluding a $0.09 discontinued operations accounting adjustment).
  • Full-year 2022 EPS guidance reaffirmed at $2.18 to $2.32, consistent with expectations shared on Analyst Day.
  • Year‑to‑date adjusted EPS of $1.08 aligns with the historical percentage of full‑year earnings.

Key Operational Highlights

  • Reliability improvements since Q1: outage duration performance now top quartile across all jurisdictions; ComEd and PHI in top decile.
  • ComEd delivered its best CAIDI on record despite June storms, restoring 80% of 125,000 affected customers in less than one day.
  • Safety: PHI improved to top quartile, while PECO slipped to second quartile; additional training underway.
  • Customer satisfaction remains strong with BGE, ComEd, and PECO in top quartile performance.
  • Gas odor response performance remains top decile across utilities; PHI maintained perfect response times under one hour for all reported odors in the first half of 2022.

Regulatory and Policy Updates

  • Delmarva Maryland filed its first multiyear rate plan (2023–2025), highlighting reliability improvements and customer service progress. Decision expected by year‑end.

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Operator: Hello, and welcome to Exelon's Second Quarter Earnings Call. My name is Dillan, and I'll be your event specialist today. [Operator Instructions] Please note that today's webcast is being recorded. It is now my pleasure to turn today's program over to Jeanne Jones, Senior Vice President of Corporate Finance. The floor is yours. Jeanne Jones: Thank you, Dillan. Good morning, everyone, and thank you for joining our second quarter 2022 earnings conference call. Leading the call today are Chris Crane, Exelon's President and Chief Executive Officer; and Joe Nigro, Exelon's Chief Financial Officer. They're joined by other members of Exelon's senior management team who will be available to answer your questions following our prepared remarks. We issued our earnings release this morning along with the presentation, all of which can be found in the Investor Relations section of Exelon's website. The earnings release and other matters which we discuss during today's call contain forward-looking statements and estimates that are subject to various risks and uncertainties. Actual results could differ from our forward-looking statements based on factors and assumptions discussed in today's material and comments made during this call. Please refer to today's 8-K and Exelon's other SEC filings for discussions of risk factors and other factors that may cause results to differ from management's projections, forecasts and expectations Today’s presentation also includes references to a

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