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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 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%.

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