Exelon Corporation - EXC STOCK NEWS

Kevala Inc., a leader in energy data analytics, has partnered with National Grid (NYSE: NGG) and Exelon Corporation (Nasdaq: EXC) to release a White Paper on a new carbon accounting framework. The 'Total Carbon Accounting' (TCA) method aims to enhance the precision of carbon intensity data for grid electricity, allowing better evaluations for decarbonization efforts. This innovative approach is currently being piloted by major utilities in North America and Europe. Kevala recently secured $21 million in Series A funding to further develop its platform and services.

ComEd has appointed Ricardo "Ric" Estrada as an independent director on its board. Estrada, a prominent leader in human services, is currently the president and CEO of Metropolitan Family Services, where he significantly expanded the organization's reach. With a wealth of experience in community advocacy, he aims to support ComEd’s focus on energy, environment, and workforce investments. Estrada holds degrees from Loyola University, the University of Chicago, and the University of Illinois at Chicago. ComEd operates under Exelon Corporation, serving over 4 million customers in northern Illinois.

Exelon Corporation (Nasdaq: EXC) reported a GAAP Net Income of $1.23 per share and Adjusted Operating Earnings of $1.09 per share in Q3 2021, reflecting a significant increase from the previous year. The company narrowed its full-year EPS guidance to $2.70-$2.90 from $2.60-$3.00. Strong utility performance was noted, with every utility achieving top rankings in outage metrics. The passage of the Illinois Clean Energy Law is expected to enhance revenue from the nuclear fleet, which achieved a capacity factor of 96%. Key acquisitions and ongoing capital investments contribute positively to the outlook.

Exelon, the largest clean energy producer in the U.S., advocates for urgent climate action amid COP26 discussions in Glasgow. President and CEO Chris Crane emphasizes the need for bipartisan support for the Build Back Better framework to enhance global competitiveness, promote innovation, and secure jobs. He urges lawmakers to pass significant climate and clean energy legislation, which could drive substantial advancements in the U.S.'s energy policy. Exelon serves around 10 million customers and had a revenue of $33 billion in 2020, boasting a diverse and low-cost clean energy generation portfolio.

The Board of Directors of Exelon Corporation has declared a quarterly dividend of $0.3825 per share, payable on Dec. 10, 2021. Shareholders on record as of Nov. 15, 2021 will receive this dividend. Exelon, operating across 48 states and Canada, reported $33 billion in revenue for 2020 and serves approximately 10 million customers through its subsidiaries. The company is recognized for its clean and low-cost power generation capacity, with 31,000 megawatts from diverse sources.

Exelon Corp. has announced leadership appointments in preparation for its separation into two companies, Exelon (utility) and Constellation (competitive energy), scheduled for Q1 2022. Key executive roles have been filled, including Calvin Butler as COO of Exelon and Kathleen Barrón as Chief Strategy Officer of Constellation. The company is making significant progress toward the separation, which requires several regulatory approvals. Exelon serves around 10 million customers and had $33 billion in revenue in 2020. More updates will be shared as the separation nears completion.

Exelon has established a $36 million Racial Equity Capital Fund to support minority-owned businesses in underserved communities across its utility service areas. This initiative aims to provide much-needed capital to fuel growth and job creation, with loans ranging from $100,000 to $300,000 and equity investments nearing $1 million. Managed by RockCreek, the fund addresses historical disparities in financing availability for minority businesses. Exelon also spent $2.7 billion with diversity-certified suppliers and initiated various workforce development programs.

Exelon has elected Carlos Gutierrez, former U.S. Secretary of Commerce, to its board of directors. Gutierrez brings extensive experience in technology and corporate leadership, having served as CEO of EmPath and Kellogg Company. His tenure in government included facilitating landmark free trade agreements. Chairman Mayo Shattuck emphasized Gutierrez's unique perspective and expertise, which will benefit Exelon as it continues to serve approximately 10 million customers across the U.S. Exelon reported 2020 revenue of $33 billion.

Exelon Corporation has launched the Exelon HBCU Corporate Scholars Program, providing $3 million in scholarships for 24 students attending historically Black colleges and universities (HBCUs). Each student will receive $100,000 over four years, which includes summer internships and career readiness support. The program aims to prepare students for careers in the energy sector, with eligibility for students from Delaware, Illinois, Maryland, New Jersey, Pennsylvania, and Washington, D.C. CEO Chris Crane emphasized the importance of diversity in fostering innovation.