Exelon 2025 Q3 Earnings EPS Surges 24.3% as Revenue Rises 9.0%

Exelon (EXC) reported fiscal 2025 Q3 earnings on Nov 4, 2025, surpassing expectations with a 24.3% year-over-year increase in EPS to $0.87 and 9.0% revenue growth to $6.71 billion. The company reaffirmed its full-year earnings guidance of $2.64–$2.74 per share, aligning with its strategic focus on infrastructure investments and operational excellence.

Revenue

Exelon’s total revenue rose 9.0% to $6.71 billion in 2025 Q3, driven by strong performance across its regulated utilities. ComEd led with $2.27 billion in revenue, while PECO and BGE contributed $1.18 billion and $1.21 billion, respectively. PHI emerged as the largest segment, generating $2.05 billion, reflecting robust demand in power generation. Additional contributions included $447 million from other segments, offset by $457 million in intersegment eliminations. The company’s diversified utility operations underscore its resilience in delivering consistent revenue growth.

Earnings/Net Income

Exelon’s EPS surged 24.3% to $0.87 in 2025 Q3, compared to $0.70 in 2024 Q3, while net income grew 23.8% to $875 million from $707 million. This performance highlights the company’s disciplined execution and strategic investments in infrastructure, reinforcing confidence in its ability to meet long-term financial targets.

Post-Earnings Price Action Review

Following the earnings report, Exelon’s stock price edged down 2.23% during the latest trading day and 2.77% for the week, but gained 2.29% month-to-date. The mixed short-term performance reflects investor evaluation of the company’s reaffirmed guidance and broader market dynamics. Management’s emphasis on infrastructure investments and operational efficiency, coupled with regulatory progress in Maryland and Pennsylvania, positions Exelon to navigate near-term volatility while maintaining long-term growth momentum.

CEO Commentary

CEO Calvin Butler highlighted Exelon’s operational and financial strengths, emphasizing infrastructure modernization and reliability rankings. CFO Jeanne Jones outlined $38 billion in planned investments through 2028, underscoring the company’s commitment to affordability and sustainable energy solutions. Both leaders reaffirmed confidence in meeting full-year guidance and long-term EPS growth targets.

Guidance

Exelon maintained its 2025 adjusted operating earnings guidance of $2.64–$2.74 per share and long-term EPS growth of 5–7% CAGR through 2028. Key initiatives include completing $38 billion in infrastructure investments, advancing rate cases in Maryland and Pennsylvania, and optimizing debt financing. The company’s disciplined approach to capital allocation and regulatory engagement reinforces its strategic alignment with customer needs and market demands.

Additional News

In the three weeks following the earnings report, Exelon faced challenges in Maryland’s RFP process, where energy supply fell short of state needs, prompting regulatory scrutiny. The company also advanced rate cases in Delmarva Power and Atlantic City Electric to fund modernization efforts. Meanwhile, Exelon’s $38 billion infrastructure investment plan, spanning four years, highlighted its commitment to operational excellence and reliability. These developments underscore the company’s proactive approach to addressing resource adequacy and regulatory challenges while advancing clean energy goals.

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