Press release
Exelon Reports Fourth Quarter and Full Year 2024 Results and Initiates 2025 Financial Outlook
Earnings Release Highlights GAAP net income of $0.64 per share and Adjusted (non-GAAP) operating earnings of $0.64 per share for the fourth quarter of 2024,
About this update from Exelon Corporation
[{"type":"text","content":"\nEarnings Release Highlights\n\n\n\nGAAP net income of $0.64 per share and Adjusted (non-GAAP) operating earnings of $0.64 per share for the fourth quarter of 2024, resulting in full-year GAAP net income of $2.45 per share and Adjusted (non-GAAP) operating earnings of $2.50 per share\n\n\n\nIntroducing 2025 Adjusted (non-GAAP) operating earnings guidance range of $2.64-$2.74 per share\n\n\n\nDeclaring quarterly dividend of $0.40 per share for the first quarter of 2025, implying an expected total 2025 dividend that represents an approximate 60% payout of Adjusted (non-GAAP) operating earnings per share\n\n\n\nProjecting to invest $38 billion of capital expenditures over the next four years, an increase of 10% versus the prior plan to support customer needs and grid reliability, resulting in expected rate base growth of 7.4% and operating EPS compounded annual growth of 5-7% from 2024 to 2028\n\n\n\nUpdating 4-year financing plan to include $1.4 billion of additional equity to fund approximately 40% of $3.5 billion of incremental capital expenditures, in line with a balanced funding strategy and resulting in implied total annual equity needs of $700 million per year from 2025 through 2028\n\n\n\nAll utilities sustained top quartile or better performance in reliability and safety, and all gas utilities sustained top decile performance in gas odor response\n\n\n\nClose to 90% of Exelon’s rate base is now covered by established mechanisms outlining cost recovery through 2026 or 2027, with final orders issued in the fourth quarter for Pepco’s multi-year rate plan in DC, PECO’s electric and gas rate cases, and ComEd’s Refiled Grid Plan\n\n\n\n CHICAGO--(BUSINESS WIRE)--\nExelon Corporation (Nasdaq: EXC) today reported its financial results for the fourth quarter and full year 2024.\n\n\n\"I am pleased to announce Exelon has delivered against our financial goals for the third straight year since becoming a transmission and delivery-only company, and we delivered top quartile performance across all our local energy companies, with ComEd and Pepco Holdings in the top decile,\" said Exelon President and Chief Executive Officer Calvin Butler. \"Our commitment to our customers, grid reliability, community investment and being an economic engine in the regions we serve has positioned us as a leader in the energy transformation. As we celebra...