Exelon (NASDAQ:EXC) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Key Points

• Exelon reported adjusted Q1 EPS of $0.91, beating estimates by $0.02 with revenue of $7.24B, and affirmed FY2026 guidance of $2.81–$2.91 EPS.
• Management rebalanced a four‑year capital plan to $41.7 billion (nearly $10B in 2026), shifting $1.5B to transmission, deferring $1.1B of distribution, and targeting ~$350M incremental O&M savings in 2027 with transmission rate base growth of ~16% through 2029.
• Near‑term risks include Exelon withdrawing PECO’s Pennsylvania rate cases and a PECO leadership change—creating regulatory/timing uncertainty—while executives warned of PJM generation shortages and potential 2028 reliability issues that could raise customer costs.

Exelon (NASDAQ:EXC - Get Free Report) issued its earnings results on Wednesday. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.02, FiscalAI reports. The company had revenue of $7.24 billion for the quarter, compared to analyst estimates of $6.93 billion. Exelon had a net margin of 11.41% and a return on equity of 9.97%. The company's revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.92 EPS. Exelon updated its FY 2026 guidance to 2.810-2.910 EPS.

Here are the key takeaways from Exelon's conference call:

• Exelon reported adjusted operating earnings of $0.91 per share in Q1, modestly ahead of expectations due to favorable weather and timing, and is affirming 2026 guidance of $2.81–$2.91 with long‑term operating earnings growth targeted near the top of a 5%–7% range.
• Management withdrew PECO's recently filed electric and gas rate cases in Pennsylvania for timing and affordability reasons and announced a leadership change at PECO, introducing near‑term regulatory and timing risk to rate recovery.
• Exelon rebalanced its four‑year capital plan to $41.7 billion (nearly $10 billion in 2026), shifting $1.5 billion to transmission while deferring $1.1 billion of distribution, expects transmission rate base to grow ~16% through 2029, and is targeting $350 million of incremental O&M savings in 2027 with ≤2% O&M growth through 2029.
• Executives flagged systemwide risks in PJM — including a shortage of generation and potential 2028 reliability issues — arguing additional generation (including utility‑led options) is needed to avoid higher customer costs and outage risk.

Exelon Stock Down 2.5%

Shares of NASDAQ:EXC traded down $1.16 during midday trading on Wednesday, hitting $45.02. The stock had a trading volume of 11,529,484 shares, compared to its average volume of 8,501,308. Exelon has a 12 month low of $41.71 and a 12 month high of $50.65. The company has a quick ratio of 0.84, a current ratio of 0.92 and a debt-to-equity ratio of 1.66. The business's 50-day simple moving average is $48.21 and its 200-day simple moving average is $46.27. The company has a market cap of $46.06 billion, a P/E ratio of 16.49, a PEG ratio of 2.68 and a beta of 0.32.

Exelon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Thursday, June 4th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $1.68 annualized dividend and a dividend yield of 3.7%. Exelon's dividend payout ratio (DPR) is currently 61.54%.

Hedge Funds Weigh In On Exelon

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. L2 Asset Management LLC bought a new position in Exelon during the third quarter worth $214,000. Financial Engines Advisors L.L.C. acquired a new position in Exelon in the third quarter valued at about $201,000. Virtus Investment Advisers LLC acquired a new position in Exelon in the fourth quarter valued at about $163,000. Summit Securities Group LLC raised its stake in Exelon by 823.4% in the fourth quarter. Summit Securities Group LLC now owns 3,038 shares of the company's stock valued at $132,000 after purchasing an additional 2,709 shares in the last quarter. Finally, Zions Bancorporation National Association UT raised its stake in Exelon by 410.8% during the fourth quarter. Zions Bancorporation National Association UT now owns 2,227 shares of the company's stock worth $97,000 after acquiring an additional 1,791 shares in the last quarter. 80.92% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on EXC shares. UBS Group raised their target price on shares of Exelon from $48.00 to $51.00 and gave the company a "neutral" rating in a research note on Friday, February 20th. Jefferies Financial Group lowered shares of Exelon from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $55.00 to $50.00 in a research note on Monday, April 20th. Wall Street Zen raised shares of Exelon from a "sell" rating to a "hold" rating in a research note on Sunday, February 22nd. KeyCorp reduced their price objective on shares of Exelon from $44.00 to $43.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 21st. Finally, Barclays lowered shares of Exelon from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $50.00 to $49.00 in a research note on Friday, April 17th. Four analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $50.47.

Key Stories Impacting Exelon

Here are the key news stories impacting Exelon this week:

• Positive Sentiment: Q1 results beat estimates on both EPS and revenue: Exelon reported $0.91 EPS vs. consensus $0.89 and revenue of $7.24B vs. $6.93B, signaling solid top-line execution and margin performance. Exelon (EXC) Surpasses Q1 Earnings and Revenue Estimates
• Positive Sentiment: Management reaffirmed its FY-2026 EPS outlook (2.810–2.910), showing confidence in the company’s forward performance and reducing surprise risk. Exelon Affirms 2026 Outlook Amid Q1 Earnings Update
• Positive Sentiment: Management highlighted operational strengths and secular tailwinds (including data‑center demand), which support medium‑term growth and utility cash flows. Exelon Q1 Earnings Preview
• Neutral Sentiment: Guidance is effectively in line with Street expectations (consensus ≈2.85; company range midpoint ≈2.86), so the update is not a clear beat or miss on FY outlook. Q1 2026 Earnings Call Transcript
• Neutral Sentiment: Revenue growth was healthy (up ~7.9% YoY), supporting the narrative of stable utility earnings despite an evolving commodity and demand backdrop. Exelon Q1 Slide Deck
• Negative Sentiment: Quarterly EPS was slightly below last year (0.91 vs. 0.92) and the beat was modest, which can disappoint investors looking for accelerating earnings momentum. Exelon Reports First Quarter 2026 Results
• Negative Sentiment: Valuation and capital structure considerations (leverage metrics and recent run toward a one‑year high) may have prompted profit‑taking; some investors view the guidance as conservative relative to recent price moves. A Look At Exelon (EXC) Valuation

About Exelon

Exelon Corporation NASDAQ: EXC is a Chicago-based energy company that operates primarily as a regulated electric and natural gas utility holding company. The company's businesses focus on the delivery of electricity and related services to residential, commercial and industrial customers, as well as investments in grid modernization, customer energy solutions and demand-side programs. Exelon's operations emphasize reliable service delivery, infrastructure maintenance and regulatory compliance across its utility footprint.

Formed in 2000 through the merger of Unicom and PECO Energy, Exelon historically combined generation and regulated utility businesses.

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