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CHICAGO - Exelon Corporation (NASDAQ:EXC) reported third-quarter earnings that exceeded analyst expectations on Tuesday, as the utility company benefited from higher distribution rates and favorable regulatory outcomes across its service territories.
The company’s shares dipped 0.71% in pre-market trading following the announcement.
The power distribution company posted adjusted earnings of $0.86 per share, surpassing the analyst consensus of $0.78. Revenue came in at $6.71 billion, above the $6.48 billion analysts had expected.
Exelon’s quarterly earnings improved from $0.71 per share in the same period last year, representing a 21% YoY increase. The company attributed the stronger performance primarily to distribution rate increases at PECO and favorable storm cost recovery.
Exelon reaffirmed its full-year 2025 adjusted earnings guidance of $2.64 to $2.74 per share, in line with the analyst consensus of $2.69. The company also reiterated its 2024-2028 earnings per share compound annual growth rate target of 5-7%, noting it expects to achieve "midpoint or better" within this range.
The utility reported significant growth in its large load pipeline, which has increased to over 19 gigawatts, driven largely by data center demand. Exelon continues to focus on transmission security agreements to protect existing customers while accommodating this growth.
The company is advancing several rate cases, including proceedings for Atlantic City Electric and Delmarva Power & Light Delaware Gas, while Pepco Maryland recently filed a new distribution rate case seeking a $133.2 million revenue increase.
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