Exelon Corporation - EXC STOCK NEWS

Exelon (Nasdaq: EXC) reported strong second-quarter 2024 results, with GAAP net income of $0.45 per share and Adjusted (non-GAAP) operating earnings of $0.47 per share. This represents an increase from $0.34 and $0.41 per share, respectively, in Q2 2023. The company reaffirmed its full-year 2024 Adjusted operating earnings guidance of $2.40-$2.50 per share and its 5-7% EPS growth target through 2027.

Key highlights include:

• Top quartile reliability performance across all utilities
• Increased revenue from customer investments
• Disciplined cost management
• Favorable weather conditions
• Progress on active rate cases

ComEd, BGE, and PHI saw increased earnings, while PECO experienced a slight decrease due to higher expenses.

Exelon (Nasdaq: EXC), the nation's largest utility company, has declared a regular quarterly dividend of $0.38 per share on its common stock. The dividend is payable on September 13, 2024, to shareholders of record as of the close of business on August 12, 2024. Exelon serves over 10.5 million customers through six regulated transmission and distribution utilities: Atlantic City Electric, Baltimore Gas and Electric, Commonwealth Edison, Delmarva Power & Light, PECO Energy Company, and Potomac Electric Power Company. With 20,000 employees, Exelon focuses on reliable and affordable energy delivery, workforce development, equity, economic development, and volunteerism in its communities.

ComEd, in partnership with the YMCA of Metropolitan Chicago and Goodwill Greater Milwaukee & Chicago, celebrated the graduation of 89 teens from the CONSTRUCT Youth Academy summer job training program. This initiative, now in its second year, prepares local youth for careers in the clean energy and construction fields. The program expanded to five sites in Chicago, including a new location in Palatine, significantly increasing participation from 21 last year.

The three-week program offers high school juniors and seniors insights into various energy sector careers, from entry-level positions to STEM and engineering roles. Participants connect with industry leaders, visit ComEd facilities, and receive demonstrations on cutting-edge technologies. Over 95% of participants are people of color, and 25% are girls, reflecting the diversity of ComEd's service area.

Pepco Holdings hosted the FUEL Engineer Fair at the Chase Center in Wilmington, DE, focusing on the theme 'Utility of the Future'. The event provided engineers with networking opportunities and a platform to showcase innovative projects. Tyler Anthony, President & CEO of Pepco Holdings, emphasized the importance of engineers in ensuring flawless day-to-day operations and finding smarter ways to serve customers.

The fair featured breakout sessions and booth displays highlighting how Pepco Holdings is challenging the status quo and preparing for future leadership in the utility sector. This event underscores the company's commitment to innovation and forward-thinking in the rapidly evolving energy industry.

Delmarva Power has opened applications for its Sustainable Communities Grant Program, offering $35,000 in grants for environmental and resiliency projects. The program, facilitated by the Delaware Nature Society, has provided over $235,000 in grants since 2020. Grants of up to $10,000 each are available for projects focusing on open space preservation, park improvements, and innovative environmental conservation approaches. The application period is open until August 30, 2024.

The program supports Delmarva Power's commitment to sustainability, environmental initiatives, and community resilience. Municipalities, recreational authorities, and nonprofits in Delmarva Power's service area in Delaware and Maryland are eligible to apply. The company encourages underrepresented communities to participate, reflecting its commitment to diversity, equity, and inclusion.

The Rockefeller Foundation announced John W. Rogers Jr. as the new Chair of the Economic Opportunity Coalition's (EOC) Management Committee. Edison International, Exelon (EXC), and Southern Company have joined the EOC with new procurement commitments, alongside existing members Xcel Energy, Micron, and Air Products. The EOC aims to strengthen domestic supply chains and build wealth in underserved communities through targeted procurement practices.

Companies partnering with the EOC have collectively purchased over $10 billion in products and services from small and historically underutilized businesses. The EOC Business Procurement pledge includes sponsoring technical assistance programs and allocating at least 15% of U.S.-based contracting spending to small and underutilized businesses by 2026. EOC members also committed more than $1 billion in deposits to Community Development Financial Institutions and Minority Depository Institutions in 2023.

ComEd has restored power to over 95% of customers affected by recent severe storms in northern Illinois. The company has reconnected more than 410,000 out of 430,000 impacted customers. ComEd estimates that without recent system improvements, outages could have been twice as extensive. The storms, which may surpass the August 2020 derecho in severity, generated at least 10 tornadoes and winds exceeding 100 mph.

ComEd expects 99% of customers to have power restored by end of day, with 99.9% restored by Friday. The company prioritized repairs for critical services and major infrastructure. ComEd's recent grid upgrades have enhanced system reliability by 70%, helping avoid over 21.7 million outages and saving $3.3 billion in outage-related costs.

ComEd has restored power to over 90% of customers affected by Monday's severe storms in northern Illinois. As of 3:00 p.m., about 41,000 customers remain without power. The National Weather Service confirmed 10 tornadoes and winds exceeding 100 mph, causing extensive damage. Over 3,000 ComEd crews, along with assistance from Wisconsin, Minnesota, and Canada, are working to restore power. The company expects most customers to have power restored by Friday, July 19.

ComEd has invested in grid upgrades, improving system reliability by 70% and saving $3.3 billion in outage-related costs. The company emphasizes safety and urges customers to report downed power lines and sign up for outage alerts.

ComEd, a unit of Exelon (NASDAQ: EXC), has restored power to 353,281 customers, over 80% of those affected by severe storms on Monday evening. The storms, including 10 tornadoes and winds exceeding 100 mph, caused widespread damage across ComEd's service territory. As of Wednesday, July 17, at 1:30 a.m., about 82,000 customers remain without power, mostly in the South region. ComEd expects to restore power to the majority of remaining customers by Friday, July 19 afternoon, with some localized areas requiring more time due to significant damage.

Over 3,000 ComEd crews and mutual assistance personnel are working around the clock to restore power. The company prioritizes repairs affecting the most customers and critical services. ComEd's recent infrastructure investments have improved system reliability by 70%, helping customers avoid over 21.7 million outages and saving more than $3.3 billion in outage-related costs.