Q4 24 EPS
$0.64
BEAT +7.94%
Est. $0.59
Q4 24 Revenue
$5.47B
BEAT +0.53%
Est. $5.44B
vs S&P Since Q4 24
-9.5%
TRAILING MARKET
EXC +13.4% vs S&P +22.9%
Full Year 2024 Results
FY 24 EPS
$2.50
BEAT +2.00%
Est. $2.45
FY 24 Revenue
$23.03B
BEAT +1.26%
Est. $22.74B
Market Reaction
Did EXC Beat Earnings? Q4 2024 Results
Exelon closed out 2024 on a strong note, posting fourth-quarter adjusted operating earnings of $0.64 per share, a 7.94% beat against the $0.59 consensus estimate, as higher distribution and transmission rates across its utility subsidiaries drove res… Read more Exelon closed out 2024 on a strong note, posting fourth-quarter adjusted operating earnings of $0.64 per share, a 7.94% beat against the $0.59 consensus estimate, as higher distribution and transmission rates across its utility subsidiaries drove results ahead of expectations. Revenue came in at $5.47 billion for the quarter, up 1.9% year over year, while favorable regulatory outcomes, including rate increases at BGE, PHI, and PECO, provided meaningful tailwinds. For the full year, Exelon delivered $2.50 per share in adjusted operating earnings, landing at the top end of its $2.40-$2.50 guidance range and extending its streak of finishing above the midpoint of guidance. Looking ahead, the company introduced 2025 adjusted operating earnings guidance of $2.64-$2.74 per share and reaffirmed its 5-7% compounded annual EPS growth target through 2028, backed by a 10% increase in its four-year capital plan to $38.00 billion, with transmission investment accounting for the bulk of incremental spending as its data center pipeline swelled to over 17 GW of anticipated demand.
Key Takeaways
- • Higher distribution rates at BGE
- • Distribution and transmission rate increases at PHI
- • Tax repairs deduction at PECO
- • Lower contracting costs at PHI
- • Lower storm costs at PECO and PHI
- • Higher distribution rate base and return on regulatory assets at ComEd
- • Absence of realized losses from hedging activity at holding company
- • Sustainable O&M savings of approximately $100M achieved through One Exelon initiatives
EXC YoY Financials
Q4 2024 vs Q4 2023, source: SEC Filings
EXC Revenue by Segment
With YoY comparisons, source: SEC Filings
“I am pleased to announce Exelon has delivered against our financial goals for the third straight year since becoming a transmission and delivery-only company, and we delivered top quartile performance across all our local energy companies, with ComEd and Pepco Holdings in the top decile.”
— Calvin Butler, Q4 2024 Earnings Press Release
EXC Earnings Trends
EXC vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
EXC EPS Trend
Earnings per share: estimate vs actual
EXC Revenue Trend
Quarterly revenue: estimate vs actual
EXC Quarterly Results
9 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $0.88 | $0.91 | +2.93% | $7.24B | +2.95% |
| Q4 25 BEAT FY | $0.55 | $0.59 | +7.88% | $5.41B | -1.38% |
| FY Full Year | $2.71 | $2.77 | +2.36% | $24.26B | +0.02% |
| Q3 25 BEAT | $0.78 | $0.86 | +10.47% | $6.71B | +3.44% |
| Q2 25 BEAT | $0.37 | $0.39 | +6.09% | $5.43B | -1.01% |
| Q1 25 BEAT | $0.85 | $0.92 | +8.58% | $6.71B | +4.15% |
| Q4 24 BEAT FY | $0.59 | $0.64 | +7.94% | $5.47B | +0.53% |
| FY Full Year | $2.45 | $2.50 | +2.00% | $23.03B | +1.26% |
| Q3 24 BEAT | $0.67 | $0.71 | +5.97% | $6.15B | +5.12% |
| Q2 24 BEAT | $0.40 | $0.47 | +17.50% | $5.36B | +9.47% |
| Q2 22 MISS | $0.46 | $0.44 | -4.35% | $4.24B | +6.12% |