Exelon Q4 Adj. Profit Rises; Issues 2023 Earnings Guidance

(RTTNews) - Exelon Corp. (EXC) reported that its fourth-quarter adjusted operating earnings increased to $0.43 per share from $0.39 per share, a year ago. On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $0.43, for the quarter. Analysts' estimates typically exclude special items.

Net income to shareholders increased to $432 million from $391 million, prior year. GAAP net income per share from continuing operations increased to $0.43 from $0.31.

Operating revenues increased to $4.67 billion from $4.42 billion, prior year. Analysts on average had estimated $4.11 billion in revenue.

Exelon introduced a guidance range for 2023 adjusted operating earnings of $2.30-$2.42 per share.

Looking forward, the company projects to invest $31.3 billion of capital expenditures over the next four years to meet customer needs, resulting in expected rate base growth of 7.9% and a fully regulated operating EPS compounded annual growth of 6-8% from 2022 to 2026 off the midpoint of 2022 guidance.

On February 14, 2023, Exelon's Board declared a regular quarterly dividend of $0.36 per share on common stock for the first quarter of 2023. The dividend is payable on Friday, March 10, 2023, to shareholders of record of Exelon on February 27, 2023.

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