Q2 25 EPS
$0.39
BEAT +6.09%
Est. $0.37
Q2 25 Revenue
$5.43B
MISS 1.01%
Est. $5.48B
vs S&P Since Q2 25
-10.9%
TRAILING MARKET
EXC +6.4% vs S&P +17.4%
Market Reaction
Did EXC Beat Earnings? Q2 2025 Results
Exelon delivered a modest earnings beat in the second quarter of 2025, posting adjusted operating EPS of $0.39 against a consensus estimate of $0.37, a 5.41% beat, even as results slipped from $0.47 in the year-ago period. Revenue of $5.43 billion gr… Read more Exelon delivered a modest earnings beat in the second quarter of 2025, posting adjusted operating EPS of $0.39 against a consensus estimate of $0.37, a 5.41% beat, even as results slipped from $0.47 in the year-ago period. Revenue of $5.43 billion grew 1.2% year over year, reflecting steady utility demand across Exelon's service territories, though the headline earnings decline tells a more complicated story underneath. The primary pressure came from a confluence of headwinds, including timing of distribution earnings at ComEd, elevated storm costs at PECO following severe weather that drove peak outages above 325,000 customers, and a one-time Customer Relief Fund contribution at the holding company level. Partially offsetting those drags were distribution and transmission rate increases at ComEd, PECO, and BGE, with PECO's net income jumping to $136.00 million from $90.00 million a year earlier. Management held firm on full-year 2025 guidance of $2.64 to $2.74 per share and reaffirmed a 5-7% operating EPS compounded annual growth rate through 2028, underpinned by a $38.00 billion capital investment plan and a growing pipeline of large load demand tied to data center expansion.
Key Takeaways
- • Distribution rate increases at PECO, BGE, ComEd, and PHI
- • Transmission rate increases across utilities
- • Higher return on regulatory assets at ComEd
- • Timing of distribution earnings negatively impacted ComEd
- • Increased storm costs at PECO including one of the largest storms in recent history with peak outages over 325,000 customers
- • Lower transmission peak load at ComEd
- • Higher credit loss and interest expense at PHI
- • Customer Relief Fund one-time charitable contribution at holding company
- • Higher interest expense at holding company
- • Lower impacts of Maryland multi-year plan reconciliations at PHI
EXC YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
EXC Revenue by Segment
With YoY comparisons, source: SEC Filings
“Exelon's second-quarter performance reflects our disciplined execution across all fronts. We remain focused on delivering long-term value through operational excellence, customer affordability solutions and a balanced investment strategy that supports grid modernization and energy security. As we reaffirm our financial guidance, we are confident in our ability to meet the evolving needs of our customers and communities while advancing a cleaner, more resilient energy future.”
— Calvin Butler, Q2 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% |