Exelon Beats Q3 Earnings & Sales Estimates, Serves More Customers

Exelon Corporation’s EXC third-quarter 2025 earnings of 86 cents per share surpassed the Zacks Consensus Estimate of 76 cents by 13.2%.
 
The bottom line improved 21.1% from the year-ago level of 71 cents. Higher utility earnings were due to distribution and transmission rates at ComEd and PHI, distribution rates at PECO and BGE, lower storm costs at PECO and BGE and some other factors.

On a GAAP basis, earnings were 86 cents per share, which increased 22.9% from the year-ago quarter’s 70 cents.

Total Revenues of Exelon

Exelon reported revenues of $6.7 billion, which surpassed the Zacks Consensus Estimate of $6.34 billion by 5.6%. The top line was 8.9% up from the year-ago figure of $6.15 billion.

Exelon Corporation Price, Consensus and EPS Surprise

Exelon Corporation price-consensus-eps-surprise-chart | Exelon Corporation Quote

Highlights of Exelon’s Q3 Release

In the reported quarter, the company served more customers than in the year-ago quarter. Consequently, total electric deliveries touched 66,273 gigawatt hours in the first nine months of 2025, up 3% from the year-ago period, primarily due to higher volumes sold to the entire customer group.

Due to revenue decoupling, Exelon’s distribution earnings were not affected by actual weather or customer usage patterns.

Exelon's total operating expenses increased nearly 4.9% year over year to $5.2 billion.

Operating income amounted to $1.5 billion, up 25.4% year over year.

Interest expenses totaled $538 million, up nearly 8.5% from the year-ago quarter’s level.

In the reported quarter, adjusted net income was $875 million compared with $707 million in the year-ago quarter.

Segmental Details of EXC

Commonwealth Edison Company (ComEd): Adjusted earnings in the third quarter were $373 million, up 3.6% from the year-ago quarter. The year-over-year increase was due to incremental investments to serve customers, higher return on regulatory assets, primarily attributed to an increase in asset balances and higher AFUDC.

PECO Energy Company (PECO): Adjusted operating earnings for the reported quarter increased 111.9% year over year to $250 million, primarily due to higher electric and gas distribution rates associated with updated recovery of investments to serve customers, partially offset by an increase in storm costs.
 
Baltimore Gas and Electric Company (BGE): Adjusted earnings for the quarter improved 82.2% year over year to $82 million due to higher distribution rates associated with updated recovery of investments to serve customers, lower storm costs and credit loss expense.
 
Pepco Holdings LLC (PHI): Adjusted operating earnings for the quarter increased 4.3% year over year to $290 million due to higher distribution and transmission rates driven by updated recovery of investments to serve customers.

EXC’s Financial Highlights

Cash and cash equivalents totaled $1.5 billion as of Sept.30, 2025, compared with $0.36 billion as of Dec. 31, 2024.

Long-term debt was $46.28 billion as of Sept. 30, 2025, compared with $42.94 billion as of Dec. 31, 2024.

Cash provided by operating activities in the first nine months of 2025 totaled $5.01 billion compared with $4.14 billion in the year-ago period.

Guidance of Exelon

Exelon reaffirmed earnings in the range of $2.64-$2.74 per share for 2025. The Zacks Consensus Estimate for the same is pinned at $2.68 per share, a tad lower than the midpoint of the company’s guided range. The company also reaffirmed 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.

Zacks Rank of Exelon

Exelon has a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Other Releases

FirstEnergy Corp. FE reported third-quarter 2025 operating earnings of 83 cents per share, which beat the Zacks Consensus Estimate of 76 cents by 9.2%.

FE’s long-term (three to five years) earnings growth is pegged at 6.46%. The Zacks Consensus Estimate for 2025 earnings per share is pegged at $2.53, indicating a year-over-year decline of 3.8%.

NextEra Energy NEE posted third-quarter 2025 adjusted earnings of $1.13 per share, which surpassed the Zacks Consensus Estimate of $1.04 by 8.65%. 

NEE’s long-term earnings growth is currently pegged at 8.04%. The Zacks Consensus Estimate for 2025 earnings per share is pegged at $3.68, indicating year-over-year growth of 7.29%.

CenterPoint Energy, Inc. CNP reported third-quarter 2025 adjusted earnings of 50 cents per share, which surpassed the Zacks Consensus Estimate of 46 cents by 8.7%.

CNP’s long-term earnings growth is currently pegged at 7.93%. The Zacks Consensus Estimate for 2025 earnings per share is pegged at $1.76, indicating year-over-year growth of 8.64%.

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This article originally published on Zacks Investment Research (zacks.com).

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