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Sep 30
Exelon Q3 2025 Earnings Report
Exelon posted solid Q3 results with strong earnings growth driven by higher utility rates and operational efficiency.
Key Takeaways
Exelon delivered strong Q3 2025 results with GAAP and adjusted EPS of $0.86, supported by higher distribution and transmission rates across its utility businesses. Net income rose to $875 million, and revenue reached $6.705 billion.
GAAP and Adjusted EPS both came in at $0.86 for Q3 2025
Net income rose to $875 million, up from $707 million in Q3 2024
Revenue increased to $6.705 billion from $6.154 billion year-over-year
Strong performance driven by utility rate increases and lower storm costs
Exelon
Exelon
Exelon Revenue by Segment
Exelon Revenue by Geographic Location
Revenue by Segment
ComEd Revenue
CapyFin.comPECO Revenue
CapyFin.comBGE Revenue
CapyFin.comPHI Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.com Forward Guidance
Exelon reaffirmed its full-year 2025 adjusted EPS guidance range of $2.64–$2.74 and its long-term earnings growth outlook of 5–7% annually from 2024 to 2028.
Positive Outlook
- Full-year 2025 adjusted EPS guidance of $2.64–$2.74 reaffirmed
- Strong reliability rankings among national utilities
- Debt financing for 2025 fully completed
- Progress on equity plan with half of needed financing through 2028 secured
- Infrastructure investments of $38 billion planned over the next four years
Challenges Ahead
- Higher interest expense at Exelon Holding Company
- Higher depreciation expense at PECO
- Timing impact of distribution earnings at ComEd
- Increased credit loss expense at PHI
- No meaningful upside from weather due to decoupling mechanisms