•
Dec 31, 2024
Exelon Q4 2024 Earnings Report
Key Takeaways
Exelon reported Q4 2024 GAAP net income of $0.64 per share and Adjusted (non-GAAP) operating earnings of $0.64 per share, reflecting higher utility earnings and lower costs at the holding company.
Exelon
Exelon
Exelon Revenue by Segment
Forward Guidance
Exelon expects continued earnings growth in 2025 with Adjusted EPS guidance of $2.64-$2.74, supported by ongoing capital investments and rate adjustments.
Positive Outlook
- Projected Adjusted EPS growth to $2.64-$2.74 per share in 2025.
- Increased capital expenditure plan of $38 billion over the next four years.
- Rate base growth expected to be 7.4%.
- All utilities maintained top quartile or better reliability performance.
- Dividend payout expected to be approximately 60% of Adjusted EPS.
Challenges Ahead
- Higher interest expenses may impact net earnings.
- Lower allowed return on equity in some segments.
- Potential regulatory risks in rate adjustments.
- Increased depreciation and amortization expenses.
- Equity financing needs of $700 million annually from 2025 to 2028.
Revenue & Expenses
Visualization of income flow from segment revenue to net income