Q1 25 EPS
$0.92
BEAT +8.58%
Est. $0.85
Q1 25 Revenue
$6.71B
BEAT +4.15%
Est. $6.45B
vs S&P Since Q1 25
-30.1%
TRAILING MARKET
EXC +2.7% vs S&P +32.8%
Market Reaction
Did EXC Beat Earnings? Q1 2025 Results
Exelon kicked off 2025 on a strong footing, reporting first-quarter adjusted operating earnings of $0.92 per share, ahead of the $0.86 Wall Street consensus by 6.98%, as consolidated revenues climbed 11.1% year over year to $6.71 billion. The utility… Read more Exelon kicked off 2025 on a strong footing, reporting first-quarter adjusted operating earnings of $0.92 per share, ahead of the $0.86 Wall Street consensus by 6.98%, as consolidated revenues climbed 11.1% year over year to $6.71 billion. The utility holding company's outperformance was broad-based across its regulated subsidiaries, with ComEd and PECO leading the charge; PECO's adjusted earnings nearly doubled to $265 million, buoyed by higher electric and gas distribution rates and a favorable weather swing from the prior-year period. GAAP net income rose to $908 million from $658 million a year ago, underscoring the depth of the rate-driven earnings recovery. Adding further momentum to the growth story, Exelon's data center interconnection pipeline has swelled to roughly 36 GW, nearly double its year-end level, pointing to substantial long-term load growth. Management reaffirmed full-year 2025 adjusted EPS guidance of $2.64 to $2.74 and maintained its 5-7% operating EPS compound annual growth rate target through 2028, with an expectation to deliver at the midpoint or better.
Key Takeaways
- • Higher distribution and transmission rate increases at ComEd and PHI
- • Distribution rate increases at PECO and BGE
- • Timing of distribution earnings at ComEd
- • Less unfavorable weather and favorable tax timing at PECO
- • Higher return on regulatory assets primarily due to increase in asset balances at ComEd
- • Favorable weather at DPL within PHI
- • Partially offset by lower transmission peak load at ComEd and higher interest expense at PECO, BGE, and PHI
EXC YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
EXC Revenue by Segment
With YoY comparisons, source: SEC Filings
“The first quarter has put us firmly on the path to deliver within our full-year earnings guidance, through our unwavering commitment to safety, reliability and efficient execution of investments for our customers.”
— Calvin Butler, Q1 2025 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% |