HIGHER EXPENSES - Increased depreciation at PECO and PHI, higher credit loss expense at BGE, and higher interest and tax expense at PECO offset some earnings gains
Q2 results and guidance
US utility operator's Q2 revenue rose yr/yr, adjusted EPS increased to $0.43 from $0.39
Company affirmed full-year 2026 adjusted EPS guidance of $2.81-$2.91
Higher utility earnings driven by rate increases and favorable weather, partly offset by higher expenses
Outlook and business focus
Exelon affirms 2026 adjusted operating EPS guidance of $2.81-$2.91
Company expects operating EPS CAGR near top end of 5-7% from 2025 to 2029
Exelon says it is focused on grid modernization and storage to meet growing energy demand
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 17 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the electric utilities peer group is "buy."
Wall Street's median 12-month price target for Exelon Corp is $49.00, about 4.2% above its July 29 closing price of $47.03
The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 17 three months ago
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