Exelon Beats Q1 Estimates with $0.91 EPS, Unveils $41.7B Capex Plan
Exelon reported Q1 net income of $919 million, GAAP EPS $0.90, adjusted EPS $0.91, beating consensus $0.89 estimates, with revenue of $7.24 billion versus forecasts of $6.91 billion. It declared a $0.42 dividend, kept full-year EPS guidance of $2.81–2.91, and unveiled a $41.7 billion capex plan with 7.9% rate base growth.
1. Q1 financial results
Exelon posted GAAP net income of $919 million in the first quarter, translating to $0.90 per share, and reported adjusted operating earnings of $0.91 per share. These results surpassed analyst estimates of $0.89 EPS and were supported by revenue of $7.24 billion, outpacing projections of $6.91 billion.
2. Capex plan and rate base growth
The company unveiled a $41.7 billion capital expenditure plan over four years aimed at grid modernization and reliability enhancements. This plan underpins a 7.9% increase in rate base, reflecting approved distribution and transmission rate adjustments across ComEd, PECO, BGE, and PHI operations.
3. Dividend declaration and EPS outlook
Exelon declared a quarterly dividend of $0.42 per share, payable June 15 to shareholders of record June 4. It reaffirmed full-year EPS guidance of $2.81 to $2.91, emphasizing its commitment to 5–7% annualized earnings growth through 2029.