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CHICAGO - Exelon Corporation (NASDAQ:EXC), the nation’s largest utility company with a market capitalization of $44 billion and trading near its 52-week high, announced today the addition of David DeWalt to its Board of Directors, effective immediately. DeWalt is recognized for his leadership in the cybersecurity industry and is the founder and CEO of NightDragon, a venture capital and cybersecurity firm.
With a career that includes top positions at FireEye, Inc., and McAfee, Inc., DeWalt brings a wealth of experience in technology and security to Exelon. His expertise is expected to enhance the company’s focus on building an intelligent energy grid and protecting customer data amidst an increasingly complex technological environment. According to InvestingPro data, Exelon has demonstrated strong momentum with a 15.6% year-to-date return, suggesting investor confidence in the company’s strategic direction.
Exelon’s President and CEO, Calvin Butler, emphasized the importance of DeWalt’s role, stating that his knowledge will be invaluable in ensuring the safety of the company’s operations and customer information as they upgrade their systems.
DeWalt’s extensive background also includes serving on the National Security Telecommunications Advisory Committee (NSTAC) across four U.S. administrations and holding a position on the Board of Directors of Delta Airlines. He earned a Bachelor of Science in Computer Science and a Ph.D. in Computer and Information Science and Support Services from the University of Delaware.
Exelon, a Fortune 200 company, delivers energy to over 10.7 million customers through its six regulated transmission and distribution utilities, generating annual revenues of $23 billion. The company’s workforce of more than 20,000 is committed to community support through energy delivery, workforce development, and volunteerism. Notably, InvestingPro analysis reveals the company has maintained dividend payments for 55 consecutive years, demonstrating remarkable financial stability. For detailed insights and comprehensive analysis, investors can access the full Pro Research Report, available exclusively to InvestingPro subscribers.
This board appointment comes as Exelon continues to navigate the challenges of a rapidly evolving technology landscape in the utility sector. The information for this article is based on a press release statement.
In other recent news, Exelon Corporation reported impressive fourth-quarter results, with adjusted earnings per share reaching $0.64, exceeding the analyst consensus of $0.60. Revenue for the quarter was also strong at $5.47 billion, surpassing the estimated $4.67 billion. For the entire year of 2024, Exelon achieved an adjusted EPS of $2.50, up from $2.38 in 2023, and saw a 4.8% year-over-year increase in total revenue, reaching $23.03 billion. Looking forward, the company has provided a 2025 adjusted EPS guidance of $2.64-$2.74, above the analyst forecast of $2.63 at the midpoint. Additionally, Exelon completed the issuance of $1 billion in new debt notes, with proceeds aimed at repaying existing borrowings and supporting general corporate purposes. The company also closed a $1 billion public offering of junior subordinated notes with a 6.500% interest rate, due in 2055. These financial moves reflect Exelon’s proactive approach to managing its debt portfolio and optimizing its capital structure. The company has announced plans to invest $38 billion in capital expenditures over the next four years to enhance customer service and grid reliability.
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