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Exelon (EXC) Q2 Earnings and Revenues Beat Estimates, Up Y/Y
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Exelon Corporation’s (EXC - Free Report) second-quarter 2018 operating earnings of 71 cents per share beat the Zacks Consensus Estimate of 61 cents by 16.4%. Quarterly earnings were 26.8% higher than the year-ago figure of 56 cents. The reported earnings were ahead of the guided range of 55-65 cents per share.
The year-over-year improvement in earnings was due to higher electric distribution earnings at ComEd, regulatory rate increases at PHI, decreased nuclear outage days, increased capacity prices and tax savings related to TCJA at Generation.
On a GAAP basis, quarterly earnings were 56 cents per share compared with 10 cents in the year-ago quarter.
Exelon Corporation Price, Consensus and EPS Surprise
Exelon's total revenues of $8,076 million surpassed the Zacks Consensus Estimate of $7,640 million by 5.7%.
Quarterly revenues also improved 5.4% from $7,665 million reported in the year-ago quarter.
Quarterly Highlights
Exelon's total operating expenses decreased 3.1% year over year to $7,138 million. The decline in expenses was primarily due to lower operating and maintenance expenses in the reported quarter.
Interest expenses were $373 million, lower than $436 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 Jun 30, 2018 was 97-100% for 2018, 71-74% for 2019 and 41-44% for 2020.
Guidance
Exelon reiterated its 2018 and third-quarter earnings per share guidance in the range of $2.90-$3.20 and 80-90 cents, respectively.
American Electric Power Co., Inc. (AEP - Free Report) reported second-quarter 2018 adjusted earnings per share of $1.01, beating the Zacks Consensus Estimate of 88 cents by 14.8%.
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2018 adjusted earnings of $2.11 per share, which beat the Zacks Consensus Estimate of $2.07 by 1.9%.
Dominion Energy Inc. (D - Free Report) reported second-quarter 2018 operating earnings of 86 cents per share, beating the Zacks Consensus Estimate of 78 cents by 10.3%.
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Exelon (EXC) Q2 Earnings and Revenues Beat Estimates, Up Y/Y
Exelon Corporation’s (EXC - Free Report) second-quarter 2018 operating earnings of 71 cents per share beat the Zacks Consensus Estimate of 61 cents by 16.4%. Quarterly earnings were 26.8% higher than the year-ago figure of 56 cents. The reported earnings were ahead of the guided range of 55-65 cents per share.
The year-over-year improvement in earnings was due to higher electric distribution earnings at ComEd, regulatory rate increases at PHI, decreased nuclear outage days, increased capacity prices and tax savings related to TCJA at Generation.
On a GAAP basis, quarterly earnings were 56 cents per share compared with 10 cents in the year-ago quarter.
Exelon Corporation Price, Consensus and EPS Surprise
Exelon Corporation Price, Consensus and EPS Surprise | Exelon Corporation Quote
Total Revenues
Exelon's total revenues of $8,076 million surpassed the Zacks Consensus Estimate of $7,640 million by 5.7%.
Quarterly revenues also improved 5.4% from $7,665 million reported in the year-ago quarter.
Quarterly Highlights
Exelon's total operating expenses decreased 3.1% year over year to $7,138 million. The decline in expenses was primarily due to lower operating and maintenance expenses in the reported quarter.
Interest expenses were $373 million, lower than $436 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 Jun 30, 2018 was 97-100% for 2018, 71-74% for 2019 and 41-44% for 2020.
Guidance
Exelon reiterated its 2018 and third-quarter earnings per share guidance in the range of $2.90-$3.20 and 80-90 cents, respectively.
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 second-quarter 2018 adjusted earnings per share of $1.01, beating the Zacks Consensus Estimate of 88 cents by 14.8%.
NextEra Energy, Inc. (NEE - Free Report) reported second-quarter 2018 adjusted earnings of $2.11 per share, which beat the Zacks Consensus Estimate of $2.07 by 1.9%.
Dominion Energy Inc. (D - Free Report) reported second-quarter 2018 operating earnings of 86 cents per share, beating the Zacks Consensus Estimate of 78 cents by 10.3%.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>