Press release
Exelon Reports Second Quarter 2020 Results
Earnings Release Highlights GAAP Net Income of $0.53 per share and Adjusted (non-GAAP) Operating Earnings of $0.55 per share for the second quarter of 2020
About this update from Exelon Corporation
[{"type":"text","content":"\nEarnings Release Highlights\n\n\n\nGAAP Net Income of $0.53 per share and Adjusted (non-GAAP) Operating Earnings of $0.55 per share for the second quarter of 2020\n\n\nReaffirming full year 2020 adjusted (non-GAAP) operating earnings guidance of $2.80-$3.10 per share\n\n\nStrong utility reliability and customer operations performance - every utility achieved top quartile in outage frequency & duration, customer satisfaction, abandon rate and gas odor response\n\n\nGeneration’s nuclear fleet capacity factor of 95.4% was the highest Q2 value in over a decade\n\n\nFirst Multi-Year Plan rate filing in Maryland was filed by BGE in May; filing proposes flat rates through 2022\n\n\nThe annual Benchmarking Air Emissions report published in July showed that Exelon continues to have the lowest carbon intensity among major electricity producers in the United States with an intensity that is 90 percent lower than the industry average\n\n\nExelon Utilities announced that by 2025, 30 percent of vehicle fleets will be electrified. By 2030, that number will increase to 50 percent.\n\n\n CHICAGO--(BUSINESS WIRE)--\nExelon Corporation (Nasdaq: EXC) today reported its financial results for the second quarter of 2020.\n\n\n“From a financial and operational standpoint, we finished the quarter strong, with each of our utilities maintaining high reliability in the face of a particularly active storm season and our nuclear fleet delivering its highest capacity factor in a decade,” said Christopher M. Crane, president and CEO of Exelon. “We also reached an agreement with the U.S. Attorney’s Office to resolve its investigation into ComEd’s past lobbying practices in Illinois. The conduct cited in the agreement did not live up to our values, and we took immediate action to identify deficiencies and implement new policies to ensure it won’t happen again. As we go forward, our employees remain focused on doing their essential work safely during this pandemic, and serving our customers and communities with the highest standards of ethics, integrity and performance.”\n\n\n“Accelerated cost savings at Exelon Generation helped offset the impact of damaging storms that affected utility earnings in the mid-Atlantic, resulting in solid adjusted (non-GAAP) earnings of $0.55 per share, which exceeded our guidance range of $0.35 to $0.45 per share,” said Joseph Nig...