Q4 25 EPS
$0.59
BEAT +7.88%
Est. $0.55
Q4 25 Revenue
$5.41B
MISS 1.38%
Est. $5.49B
Full Year 2025 Results
FY 25 EPS
$2.77
BEAT +2.36%
Est. $2.71
FY 25 Revenue
$24.26B
BEAT +0.02%
Est. $24.25B
Did EXC Beat Earnings? Q4 2025 Results
Exelon closed out 2025 on a stronger-than-expected note, posting fourth-quarter adjusted operating earnings of $0.59 per share and beating the $0.55 consensus estimate by 7.27%, even as quarterly revenue of $5.41 billion slipped 1.1% year over year. … Read more Exelon closed out 2025 on a stronger-than-expected note, posting fourth-quarter adjusted operating earnings of $0.59 per share and beating the $0.55 consensus estimate by 7.27%, even as quarterly revenue of $5.41 billion slipped 1.1% year over year. The beat was largely powered by higher distribution and transmission rates across its ComEd, PHI, PECO, and BGE utilities, which helped offset a $60 million Customer Relief Fund contribution and rising depreciation and interest costs. The solid finish capped a full year in which adjusted operating EPS rose to $2.77 from $2.50, exceeding the midpoint of management's own guidance range. Looking ahead, Exelon introduced 2026 adjusted operating EPS guidance of $2.81 to $2.91, representing over 6% growth, and unveiled a $41.30 billion four-year capital plan targeting 7.9% rate base growth, with transmission investment accounting for the majority of the increase, a strategy that has recently drawn renewed institutional interest and lifted analyst price targets across the Street.
Key Takeaways
- • Higher distribution and transmission rates at ComEd and PHI
- • Distribution rates at PECO and BGE
- • Higher AFUDC at ComEd
- • Favorable weather at PECO
- • Multi-year plan reconciliation at BGE
- • 7.4% CAGR in adjusted operating EPS since 2021
- • 9.7% operating ROE earned in 2025
- • ~$300M sustainable O&M savings since 2024
- • All utilities achieved first quartile SAIDI performance
EXC YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
EXC Revenue by Segment
With YoY comparisons, source: SEC Filings
“As we close out our 25th anniversary year, I am pleased to report that Exelon delivered strong operational and financial performance in 2025. We remain committed to balancing the investments needed to meet tomorrow's energy demands while keeping our customers at the center of every decision. Through our customer programs and disciplined focus on cost and operational excellence, we continued to maintain customer bills below the national average. We look forward to building on this momentum in 2026 – delivering and advocating for safe, reliable and affordable energy solutions while strengthening the communities we proudly serve.”
— Calvin Butler, Q4 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% |