Exelon Corporation Q2 FY2026 Earnings Call

· Earnings call transcript and AI-powered summary

Exelon Q2 2026 Earnings Summary

  • Financial Performance: Adjusted operating earnings of $0.43 per share in Q2 2026, up $0.04 from $0.39 per share in Q2 2025. Primary drivers: +$0.04 from distribution/transmission rates (net of depreciation/AFUDC), +$0.04 from 2025 Customer Relief Fund, +$0.01 favorable weather at PECO; offset by -$0.02 higher credit loss expense at BGE and -$0.02 interest expense at corporate/PECO.
  • Guidance & Outlook: Reaffirmed full-year 2026 guidance of $2.81-$2.91 per share (goal: midpoint or better). Expect Q3 2026 earnings ~27% of full-year midpoint. Reaffirmed 5-7% annualized earnings growth (near top end) from 2025-2029, supported by 7.9% annualized rate base growth. Targeting 9-10% consolidated operating ROE and ~$10B capital deployment in 2026.
  • Operational Highlights: All utilities projected top-quartile reliability (ComEd and PHI in top decile). ComEd managed 16 major weather events in 2026 (highest in over 20 years); restored power to 90% of 530k affected customers within 48 hours after July storms. 2025 top-quartile reliability saved customers ~$1B in avoided outage costs; customer interruptions down nearly 2M since 2021.

Regulatory & Rate Case Updates

  • Pepco Maryland electric base rate case: Final order expected next month.

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Operator: Hello, and welcome to Exelon’s Second Quarter 2026 Earnings Call. My name is Josh, and I will be your event specialist today. All lines have been placed on mute to prevent any background noise. Please note that today’s webcast is being recorded. During the presentation, we will have a question-and-answer session. You can ask questions by pressing *11 on your telephone keypad. If you would like to view the presentation in full-screen view, click the full-screen button by hovering your computer mouse cursor over the PowerPoint screen. Press the Escape key on your keyboard to return to your original view. And finally, should you need technical assistance, as a best practice, we suggest you first refresh your browser. If that does not resolve the issue, please click on the Help option in the upper-right-hand corner of your screen for online troubleshooting. It is now my pleasure to turn today’s program over to Ryan Brown, Vice President of Investor Relations. The floor is yours. Ryan Brown: Great. Thank you, Josh. Good morning, everyone. Appreciate you joining us for our 2026 second quarter earnings call. Leading the call today are Calvin Butler, Exelon’s President and Chief Executive Officer, and Jeanne Jones, Exelon’s Chief Financial Officer. Other members of Exelon’s senior management team are also with us today and will be available to answer your questions following our prepared remarks. Today’s presentation, along with our earnings release and other financial info

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