Exelon Corporation Set for Q3 Earnings Report and Analyst Updates

Exelon Corporation, valued at $40.1 billion, is expected to announce its Q3 earnings imminently. Analysts forecast an EPS of $0.67, in line with last year's figures, while the future outlook shows promising growth with projected EPS increases. Current market performance lags behind the S&P 500.

Date: 28-10-2024

AI Rating: 6

Exelon Corporation (EXC) is set to disclose its Q3 earnings, with analysts projecting an EPS of $0.67, consistent with the same quarter last year. Historically, the company has been mixed in exceeding Wall Street estimates, with two successful and two unsuccessful quarters out of the last four.

For fiscal 2024, the expectations for the EPS stand at $2.44, signifying a minor increase of 2.5% from $2.38 in fiscal 2023. Furthermore, the projected EPS for fiscal 2025 shows a stronger growth trajectory at 7.8%, reaching $2.63. These figures reflect a cautiously optimistic outlook for the company's earnings.

In terms of performance, it has been noted that EXC has increased by 11.6% in 2024; however, this is notably lower compared to the 21.8% increase of the S&P 500 Index and the 26.9% rise of the Utilities Select Sector SPDR Fund during the same period. This underperformance compared to market indices may cause concern among investors.

Exelon experienced a positive surge of 2.9% on August 1, linked to its robust Q2 performance, which demonstrated an EPS of $0.47 that surpassed analyst estimates of $0.40. Additionally, the company reported an impressive 11.2% year-over-year revenue growth to $5.4 billion, driven by increased electricity rates and sustained demand from data centers. A pivotal rate increase approval from the MDPSC is expected to solidify revenue streams.

The overall consensus on EXC stock remains cautiously optimistic, earning a "Moderate Buy" rating. The current projections place it below the average analyst price target of $43.20, suggesting potential for upward movement should earnings meet or exceed expectations.

Stocks: EXC