earnings
confidence high
sentiment positive
materiality 0.85
Exelon Q4 adjusted EPS $0.64; initiates 2025 guidance $2.64-$2.74; raises 4-yr capex to $38B
EXELON CORP
- Q4 2024 GAAP net income $0.64 per share; adjusted (non-GAAP) $0.64 per share, up from $0.60 in Q4 2023.
- Full-year 2024 adjusted EPS of $2.50, vs $2.38 in 2023; 2025 adjusted EPS guidance set at $2.64-$2.74.
- Quarterly dividend declared at $0.40 per share, implying expected 2025 payout ratio of ~60%.
- Capital expenditure plan increased 10% to $38B over 2025-2028; rate base growth of 7.4% and EPS CAGR 5-7%.
- Rate cases approved: ComEd MRP, Pepco DC multi-year plan, PECO electric ($354M) and gas ($78M) effective Jan 2025.