The utility operator, which oversees ComEd in Illinois and PECO in Pennsylvania, reported third-quarter adjusted earnings of 87 cents per share, comfortably surpassing the 79-cent estimate from analysts tracked by FactSet. While net profit dipped to $729 million from $875 million a year ago, total operating revenue climbed to $7.32 billion, significantly exceeding market expectations of $6.76 billion.
In section Market Quotes
Exelon Raises Annual Profit Forecast Following Strong Third Quarter
Bolstered by higher approved rate plans across its utility subsidiaries, Chicago-based Exelon has lifted its full-year profit outlook. The company now projects adjusted earnings per share between $2.85 and $2.91, raising the lower end of its previous guidance as it navigates rising operational costs and severe weather demands.
Chief Executive Calvin Butler attributed the results to consistent performance across the company’s regional holdings. Growth driven by increased distribution and transmission rates at ComEd, BGE, and PHI helped offset the financial impact of storm-related expenses incurred during the summer months. Despite these weather-related costs, the firm maintains its long-term outlook, targeting compound annual earnings growth at the high end of its 5% to 7% range through 2029.
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