Exelon Q4 Profit Tops Estimates; Initiates 2024 Guidance - Quick Facts

(RTTNews) - Exelon Corporation (EXC) reported that its fourth quarter GAAP net income from continuing operations increased to $0.62 per share from $0.43 per share in the fourth quarter of 2022. Adjusted operating earnings increased to $0.60 per share from $0.43 per share. On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $0.58, for the quarter. Analysts' estimates typically exclude special items.

Fourth quarter operating revenues were $5.37 billion. Analysts on average had estimated $4.17 billion in revenue.

For 2024, the company expects adjusted earnings of $2.40 to $2.50 per share. Over the next four years, Exelon will invest $35 billion to serve customers, resulting in 7.5% rate base growth and an expected annualized earnings growth rate of 5% to 7% through 2027, off the midpoint of 2023 guidance, with an expectation of being at midpoint or better in that range.

Exelon's Board declared a regular quarterly dividend of $0.38 per share on common stock for the first quarter of 2024. The dividend is payable on March 15, 2024, to shareholders of record as of March 4, 2024.

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