Exelon Corp. (EXC) Reports In-Line Q1 EPS, Revenues Beat
Exelon Corp. (NYSE: EXC) reported Q1 EPS of $0.87, in-line with the analyst estimate of $0.87. Revenue for the quarter came in at $9.69 billion versus the consensus estimate of $8.91 billion.
Earnings Release Highlights
- GAAP Net Income of $0.93 per share and Adjusted (non-GAAP) Operating Earnings of $0.87 per share for the first quarter of 2019
- Exelon and subsidiaries upgraded by S&P and Fitch on successful execution of utility growth strategy
- Supreme Court upholds the legality of the ZEC program in Illinois and New York
- New Jersey BPU voted to grant ZECs to Hope Creek and Salem 1 and 2
- Strong utility operations with every utility achieving top decile CAIDI performance
“Delivering clean energy to address climate change while meeting the needs of our customers and the communities we serve continues to drive Exelon’s business results. Our electric and gas companies earned top marks on key customer satisfaction and operating metrics, while our nuclear generation fleet had its best quarterly capacity factor in 10 years,” said Christopher M. Crane, president and CEO. “The Supreme Court declined to hear cases disputing Illinois’ and New York’s Zero Emissions Credit programs, preserving these states’ emissions-free nuclear power plants and the economic and environmental benefits they provide. We marked the anniversaries of our mergers with Constellation and Pepco Holdings, which not only have improved service for our customers but also increased our regulated business mix and provided more stable earnings.”
“Exelon made a strong start to 2019, with adjusted (non-GAAP) operating earnings this quarter above the midpoint of our guidance range, at $0.87 per share,” said Joseph Nigro, Exelon’s senior executive vice president and CFO. “Our strategy to invest in advanced technology and infrastructure to grow our regulated business continues to prove successful and, in recognition of this, both S&P and Fitch upgraded Exelon’s credit ratings.”
For earnings history and earnings-related data on Exelon Corp. (EXC) click here.