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Exelon (EXC) Q1 Earnings and Revenues Beat on New Rates
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Exelon Corporation’s (EXC - Free Report) first-quarter 2018 operating earnings of 96 cents per share beat the Zacks Consensus Estimate of 93 cents by 3.2%. Quarterly earnings were 50% higher than the year-ago figure of 44 cents.
The year-over-year improvement in earnings was due to favorable weather, rate increases at BGE and PHI, and higher electric distribution and transmission earnings at ComEd.
On a GAAP basis, quarterly earnings were 60 cents per share compared with $1.06 in the year-ago quarter. The difference between GAAP and operating earnings in the reported quarter was due to a few one-time gains and losses, resulting in a one-time impact of 36 cents per share.
Total Revenues
Exelon's total revenues of $9,693 million surpassed the Zacks Consensus Estimate of $9,015 million.
Quarterly revenues also improved 10.8% from $8,747 million reported in the year-ago quarter.
Exelon Corporation Price, Consensus and EPS Surprise
Exelon's total operating expenses increased 12.8% year over year to $8,648 million. The rise was primarily due to higher purchasing power and fuel expenses.
Interest expenses were $371 million, a tad lower than $373 million in the year-ago quarter.
Hedges
Exelon's hedging program involves safeguarding of commodity risks for expected generation, typically on a ratable basis, over a three-year period. The proportion of expected generation hedged as of Mar 31, 2018 was 91-94% for 2018, 63-66% for 2019, and 33-36% for 2020.
Guidance
Exelon reiterated its 2018 earnings guidance per share in the range of $2.90-$3.20 and provided second-quarter guidance within 55-65 cents per share.
American Electric Power Co., Inc. (AEP - Free Report) reported first-quarter 2018 adjusted earnings per share (EPS) of 96 cents, missing the Zacks Consensus Estimate of $1.00 by 4%.
NextEra Energy, Inc. (NEE - Free Report) reported first-quarter 2018 adjusted earnings of $1.94 per share, beating the Zacks Consensus Estimate of $1.78 by 8.9%.
Dominion Energy Inc. (D - Free Report) reported first-quarter 2018 operating earnings of $1.14 per share, beating the Zacks Consensus Estimate of $1.03 by 10.7%.
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Exelon (EXC) Q1 Earnings and Revenues Beat on New Rates
Exelon Corporation’s (EXC - Free Report) first-quarter 2018 operating earnings of 96 cents per share beat the Zacks Consensus Estimate of 93 cents by 3.2%. Quarterly earnings were 50% higher than the year-ago figure of 44 cents.
The year-over-year improvement in earnings was due to favorable weather, rate increases at BGE and PHI, and higher electric distribution and transmission earnings at ComEd.
On a GAAP basis, quarterly earnings were 60 cents per share compared with $1.06 in the year-ago quarter. The difference between GAAP and operating earnings in the reported quarter was due to a few one-time gains and losses, resulting in a one-time impact of 36 cents per share.
Total Revenues
Exelon's total revenues of $9,693 million surpassed the Zacks Consensus Estimate of $9,015 million.
Quarterly revenues also improved 10.8% from $8,747 million reported in the year-ago quarter.
Exelon Corporation Price, Consensus and EPS Surprise
Exelon Corporation Price, Consensus and EPS Surprise | Exelon Corporation Quote
Quarterly Highlights
Exelon's total operating expenses increased 12.8% year over year to $8,648 million. The rise was primarily due to higher purchasing power and fuel expenses.
Interest expenses were $371 million, a tad lower than $373 million in the year-ago quarter.
Hedges
Exelon's hedging program involves safeguarding of commodity risks for expected generation, typically on a ratable basis, over a three-year period. The proportion of expected generation hedged as of Mar 31, 2018 was 91-94% for 2018, 63-66% for 2019, and 33-36% for 2020.
Guidance
Exelon reiterated its 2018 earnings guidance per share in the range of $2.90-$3.20 and provided second-quarter guidance within 55-65 cents per share.
Zacks Rank
Exelon currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Peer Releases
American Electric Power Co., Inc. (AEP - Free Report) reported first-quarter 2018 adjusted earnings per share (EPS) of 96 cents, missing the Zacks Consensus Estimate of $1.00 by 4%.
NextEra Energy, Inc. (NEE - Free Report) reported first-quarter 2018 adjusted earnings of $1.94 per share, beating the Zacks Consensus Estimate of $1.78 by 8.9%.
Dominion Energy Inc. (D - Free Report) reported first-quarter 2018 operating earnings of $1.14 per share, beating the Zacks Consensus Estimate of $1.03 by 10.7%.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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