Exelon's Q4 Earnings & Revenues Surpass Estimates, Capex Plan Up

Exelon Corporation’s EXC fourth-quarter 2024 earnings of 64 cents per share surpassed the Zacks Consensus Estimate of 59 cents by 8.5%. The figure also increased from the year-ago level of 60 cents per share. Higher distribution and transmission rate increases at Pepco Holdings LLC boosted year-over-year earnings.Find the latest earnings estimates and surprises on Zacks Earnings Calendar.On a GAAP basis, earnings were 64 cents per share, which increased 3.2% from the year-ago quarter’s 62 cents.Adjusted earnings per share in 2024 were $2.50 compared with $2.38 in 2023.  This metric was at the upper end of the guided range of $2.40-$2.50 per share.Total Revenues of ExelonExelon reported revenues of $5.47 billion, which surpassed the Zacks Consensus Estimate of $5.45 billion by 0.3%. The top line was 1.9% higher than the year-ago figure of $5.36 billion.In 2024, total revenues were $23.02 billion, up 5.9% year over year.Exelon Corporation Price, Consensus and EPS Surprise Exelon Corporation price-consensus-eps-surprise-chart | Exelon Corporation QuoteHighlights of Exelon’s Q4 ReleaseTotal electric deliveries (in GWhs) in the reported quarter were up 2.4%, primarily due to higher volumes sold to Large commercial & industrial customers.Due to revenue decoupling, ComEd’s distribution earnings were not affected by actual weather or customer usage patterns.Exelon's total operating expenses increased 2.05% year over year to $4.37 billion.Operating income amounted to $1.09 billion, up marginally year over year.Interest expenses totaled $467 million, up 3.3% from the year-ago quarter’s level.Despite a 0.25% year-over-year drop in customer volume in 2024, Exelon electric deliveries (in GWhs) in 2024 improved 2.5%. Higher usage by residential customers and Large commercial & industrial customers impacted the volume positively in 2024.In the reported quarter, adjusted net income was $642 million compared with $603 million in the year-ago quarter.Q4 Segmental Earnings of EXCCommonwealth Edison Company (ComEd): Adjusted earnings in the fourth quarter were $243 million, down 9.7% from the year-ago quarter. The year-over-year decline was due to the timing of distribution earnings, lower allowed distribution ROE, the absence of a return on the pension asset within distribution earnings and lower carrying cost recovery related to the CMC regulatory asset.PECO Energy Company (PECO): Adjusted operating earnings for the reported quarter increased 27.3% year over year to $196 million, primarily due to higher tax repair deductions and lower storm costs.Baltimore Gas and Electric Company (BGE): Adjusted earnings for the quarter decreased 12.1% year over year to $175 million due to lower impacts of multi-year plans reconciliations, higher depreciation and amortization cost, and higher interest expense.Pepco Holdings LLC (PHI): Adjusted operating earnings for the quarter increased 29.4% year over year to $132 million due to distribution and transmission rate increases and a decrease in contracting and storm costs.Others: It reported a loss of $104 million in the fourth quarter, narrower than the loss of $123 million in the year-ago quarter.EXC’s Financial HighlightsCash and cash equivalents totaled $357 million as of Dec. 31, 2024, compared with $445 million as of Dec. 31, 2023.Long-term debt was $42.94 billion as of Dec. 31, 2024, compared with $39.7 billion as of Dec. 31, 2023.Cash provided by operating activities in 2024 totaled $5.57 billion compared with $4.70 billion in the year-ago period.In 2024, the company issued long-term debt worth $4.97 billion and retired long-term debt worth nearly $1.56 billion.Guidance of ExelonExelon expects earnings in the range of $2.64-$2.74 per share for 2025. The Zacks Consensus Estimate for the same is pinned at $2.46 per share, down from the lower end of the company’s guided range. The company also reaffirms its adjusted (non-GAAP) operating EPS compounded annual growth target of 5-7% through 2028.Exelon will be making $38 billion of critical investments in its energy infrastructure in the 2025-2028 period. The new capital expenditure indicates a 10% increase from the prior plan and will be utilized to support customer needs and grid reliability.Zacks Rank of ExelonExelon has a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Other ReleasesNextEra Energy, Inc. NEE reported fourth-quarter 2024 adjusted earnings of 53 cents per share, which beat the Zacks Consensus Estimate of 51 cents by 3.9%.NEE’s long-term (three-to-five years) earnings growth rate is 7.78%. It delivered an average earnings surprise of 6.5% in the last four quarters.CMS Energy Corporation CMS reported fourth-quarter 2024 earnings per share (EPS) of 87 cents, which beat the Zacks Consensus Estimate of 86 cents by 1.2%.CMS’ long-term earnings growth rate is 7.68%. The company delivered an average earnings surprise of 4.76% in the last four quarters.WEC Energy Group WEC reported fourth-quarter 2024 earnings of $1.43 per share, which missed the Zacks Consensus Estimate of $1.44 by 0.7%.WEC’s long-term earnings growth rate is 7.61%. It delivered an average earnings surprise of 6.34% in the last reported quarter. Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Exelon Corporation (EXC): Free Stock Analysis Report NextEra Energy, Inc. (NEE): Free Stock Analysis Report WEC Energy Group, Inc. (WEC): Free Stock Analysis Report CMS Energy Corporation (CMS): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks