---
schema_version: "secwatch.filing_event.v1"
accession: "0001109357-25-000167"
form_type: "8-K"
ticker: "EXC"
cik: "0001109357"
company_name: "EXELON CORP"
filed_at: "2025-07-31T23:59:59+00:00"
generated_at: "2026-05-17T22:09:12.689068+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Exelon Q2 adjusted EPS $0.39, down from $0.47 YoY; reaffirms FY guidance $2.64-2.74

## Summary
- GAAP net income $391M ($0.39/diluted) vs $448M ($0.45) in Q2 2024; adjusted operating earnings $392M ($0.39) vs $472M ($0.47).
- ComEd earnings fell to $228M from $285M on timing and lower transmission; PHI down to $144M from $162M on lower reconciliations and higher costs.
- PECO earnings rose to $136M from $93M on rate increases; BGE up to $55M from $45M on distribution rates, partly offset by Next Generation Energy Act impact.
- Reaffirmed FY2025 adjusted EPS guidance $2.64-$2.74 and 5-7% CAGR through 2028; declared $0.40 quarterly dividend.
- BGE issued $650M 5.45% notes due 2035; ComEd issued $725M 5.95% bonds due 2055; DPL reoffered $78.4M at 3.60%.

## SEC filing metadata
- accession: 0001109357-25-000167
- form_type: 8-K
- ticker: EXC
- cik: 0001109357
- company_name: EXELON CORP
- filed_at: 2025-07-31T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1109357/000110935725000167/0001109357-25-000167-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/8192/000110935725000167/exc-20250731.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001109357-25-000167
- JSON: https://secwatch.observer/filing/0001109357-25-000167.json
- Plain text: https://secwatch.observer/filing/0001109357-25-000167.txt

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