---
schema_version: "secwatch.filing_event.v1"
accession: "0001109357-25-000041"
form_type: "8-K"
ticker: "EXC"
cik: "0001109357"
company_name: "EXELON CORP"
filed_at: "2025-02-12T23:59:59+00:00"
generated_at: "2026-05-26T22:42:18.056711+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Exelon Q4 adjusted EPS $0.64; initiates 2025 guidance $2.64-$2.74; raises 4-yr capex to $38B

## Summary
- 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.

## SEC filing metadata
- accession: 0001109357-25-000041
- form_type: 8-K
- ticker: EXC
- cik: 0001109357
- company_name: EXELON CORP
- filed_at: 2025-02-12T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1109357/000110935725000041/0001109357-25-000041-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/8192/000110935725000041/exc-20250212.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001109357-25-000041
- JSON: https://secwatch.observer/filing/0001109357-25-000041.json
- Plain text: https://secwatch.observer/filing/0001109357-25-000041.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.