Exelon Q4 EPS Tops by 11%, Revenues Miss by 2.3%, Plans $41.3B Capex
Exelon reported Q4 EPS of 59 cents, beating estimates by 11.3% while revenues of $5.41 billion missed consensus by 2.3% and operating income rose 8% to $1.19 billion. It plans $41.3 billion capex through 2029 and guided 2026 EPS of $2.81-$2.91, implying over 6% growth and a 5-7% EPS CAGR.
1. Q4 Financial Results
Exelon delivered fourth-quarter EPS of $0.59, beating the $0.53 consensus by 11.3% but down 7.8% year over year from $0.64. Revenue declined 1.1% to $5.41 billion, missing the $5.54 billion estimate by 2.3%.
2. Operating Income and Deliveries
Operating income rose 8% to $1.19 billion as operating expenses fell 3.3% to $4.23 billion. Total electric deliveries increased 2.7% year over year to 86,585 gigawatt hours, reflecting higher customer volumes.
3. Strategic Capex Plan and Guidance
The company outlined a $41.3 billion infrastructure capex plan for 2026–2029 and set 2026 EPS guidance at $2.81–$2.91, implying more than 6% growth. Exelon targets a 5–7% EPS compound annual growth rate through 2029.
4. Balance Sheet Highlights
Cash and cash equivalents totaled $626 million as of December 31, 2025, compared with $357 million at year-end 2024. Long-term debt increased to $47.41 billion from $42.95 billion over the same period.