Citable filing context
EXC's research view summarizes recent SEC filing context, starting with earnings from Jul 30, 2026.
| Filed | Item | Context |
|---|---|---|
| Jul 30, 2026 | earnings | Exelon reported second quarter 2026 GAAP net income of $0.39 per share and adjusted earnings of $0.43 per share. |
| May 6, 2026 | earnings | Exelon reported Q1 2026 GAAP net income of $0.90 per share and adjusted operating earnings of $0.91 per share. |
| Apr 30, 2026 | other | Exelon Corporation held its Annual Meeting of Shareholders on April 28, 2026, approving all proposed items. |
| Jul 30, 2026 | Guidance: adjusted_operating_earnings | 2.81 to 2.91 |
| Jul 30, 2026 | Guidance: operating_eps_growth | 5.00 to 7.00 |
| May 6, 2026 | Guidance: adjusted_operating_earnings | 2.81 to 2.91 |
| Jul 30, 2026 | mda_quarterly | Exelon’s financial performance for the first half of 2026 reflects a stable utility holding company environment, with consolidated net income of $1.315 billion compared to $1.300 billion in 2025. Growth was primarily driven by approved rate increases at ComEd, BGE, and PHI, alongside higher Allowance for Funds Used During Construction (AFUDC) at ComEd and favorable weather at PECO. These gains were partially offset by higher interest and depreciation expenses, as well as the timing of distribution earnings at ComEd and unfavorable impacts from the Pepco Maryland multi-year plan reconciliation. Exelon maintains a robust capital investment program, with 2026 estimated expenditures totaling $9.9 billion across its transmission, distribution, and gas segments. To support these capital needs, the company utilized an At-the-Market (ATM) equity program, issuing 8.7 million shares in the second quarter of 2026 for $382 million in net proceeds. Liquidity remains sufficient, supported by $4.0 billion in aggregate credit facilities. Key regulatory risks include ongoing PJM cost allocation disputes, potential impacts from new Maryland and New Jersey legislation regarding RTO participation, and Delaware’s new limitations on non-mandatory capital spending. Additionally, the company is implementing a $350 million cost-saving strategy for 2027 to enhance operational efficiency. |
| May 6, 2026 | mda_quarterly | Exelon reported Q1 2026 net income of $919 million, a slight increase over $908 million in Q1 2025, with diluted EPS remaining flat at $0.90. Earnings were supported by approved rate increases at ComEd, BGE, and PHI, and favorable weather at PECO, but were tempered by higher interest and depreciation expenses and unfavorable Pepco Maryland multi-year plan reconciliations. The company projects 2026 capital expenditures of $9.9 billion, supported by $4.0 billion in credit facilities and a $2.5 billion at-the-market equity program. Significant regulatory and tax risks include a potential $1.2 billion to $1.7 billion reduction in rate base resulting from IRS private letter rulings on tax normalization and the pending Maryland Utility RELIEF Act. Additionally, a FERC order regarding PJM cost allocation for transmission reliability upgrades may have material financial impacts. On the tax front, new Treasury guidance on the Corporate Alternative Minimum Tax allows Exelon to reduce its liability by $80 million and secure a $235 million reimbursement from Constellation. Credit stability saw a minor shift as S&P lowered BGE’s long-term issuer credit rating from 'A' to 'A-'. |
Source: SEC EDGAR filing text and events; period Jul 30, 2026; filed Jul 30, 2026.
EXC company research is available with Aerarium Pro (CAD $10/mo). The five showcase tickers (TSLA, NVDA, AAPL, AMZN, PLTR) and the macro dashboard stay free. Already a subscriber? Sign in to pick up where you left off.