Press release
Exelon Reports Second Quarter 2024 Results
Earnings Release Highlights GAAP net income of $0.45 per share and Adjusted (non-GAAP) operating earnings of $0.47 per share for the second quarter of 2024
About this update from Exelon Corporation
[{"type":"text","content":"\nEarnings Release Highlights\n\n\n\nGAAP net income of $0.45 per share and Adjusted (non-GAAP) operating earnings of $0.47 per share for the second quarter of 2024\n\n\n\nReaffirming full year 2024 Adjusted (non-GAAP) operating earnings guidance range of $2.40-$2.50 per share\n\n\n\nReaffirming fully regulated operating EPS compounded annual growth target of 5-7% through 2027\n\n\n\nStrong utility reliability performance – achieved top quartile reliability performance at all utilities, with ComEd and Pepco Holdings achieving top decile in both outage frequency and outage duration for the second straight quarter\n\n\n\nAn order in Pepco’s “Climate Ready Pathway MD” multi-year plan was received in June\n\n\n\n CHICAGO--(BUSINESS WIRE)--\nExelon Corporation (Nasdaq: EXC) today reported its financial results for the second quarter of 2024.\n\n\n\"I am pleased to report strong second-quarter earnings and industry-leading operational performance as Exelon maintains our consistent track record of delivering results,\" said President and CEO Calvin Butler. \"We continue achieving the top-tier reliability our customers expect, and in an evolving regulatory environment, we are being nimble in our financial and regulatory strategies, ensuring our investments meet customers' growing demands and needs.\"\n\n\n\"We delivered second quarter adjusted operating earnings of $0.47 per share this year, $0.06 ahead of results in the second quarter of 2023, driven by increased revenue associated with the investments we are making on behalf of our customers, disciplined cost management and favorable weather conditions,\" said Exelon Chief Financial Officer Jeanne Jones. \"With most of our planned debt financing activity complete for the year and continued progress on our active rate cases, we remain on track to deliver Adjusted (non-GAAP) operating earnings at the midpoint or better of $2.40 to $2.50 per share for the full year.\"\n\n\nSecond Quarter 2024\n\n\nExelon's GAAP net income for the second quarter of 2024 increased to $0.45 per share from $0.34 per share in the second quarter of 2023. Adjusted (non-GAAP) operating earnings for the second quarter of 2024 increased to $0.47 per share from $0.41 per share in the second quarter of 2023. For the reconciliations of GAAP net income to Adjusted (non-GAAP) operating earnings, refer to the tables beg...