Exelon - EXC STOCK NEWS

Delmarva Power recently participated in the Cradles to Crayons Backpack-A-Thon in Wilmington, Delaware, where volunteers packed backpacks with essential school supplies for local children. This event aims to provide equitable access to educational tools for families facing financial barriers. The initiative not only supplies items like notebooks and pencils but also alleviates financial burdens on families, allowing them to focus on other important aspects of their lives.

The Backpack-A-Thon demonstrates a community-driven effort to support young students and their educational journeys. Delmarva Power expressed gratitude to their volunteers and Cradles to Crayons Philadelphia for their commitment to making a positive impact on children's lives through this initiative.

Delmarva Power's summer internship program offers students hands-on experience in the utility industry. Matthew Sweeney, a rising senior studying advertising and digital marketing, interned with the Construction and Maintenance department. His projects included organizing job applications and hosting a beach clean-up event. Matthew also took initiative to work on communications projects and shadow a senior marketing specialist.

Through the internship, Matthew gained knowledge about the local energy grid and Delmarva Power's operations. He pushed himself to network, connecting with various employees and departments. Matthew described the experience as incredibly rewarding, praising the program organizers and expressing hope for future opportunities with the company.

ComEd, a unit of Exelon (NASDAQ: EXC), has appointed two new independent directors to its board: Elizabeth "Liz" Buchanan, 39, president of NielsenIQ, North America, and Stephen "Biff" Bowman, 61, retired CFO of The Northern Trust Company. This expansion brings the total number of board members to seven, including five independent directors.

Buchanan, recognized for her expertise in data and analytics, and Bowman, with his extensive financial services background, join existing independent directors Ricardo Estrada, Zaldwaynaka Scott, and Smita Shah. ComEd CEO Gil Quiniones emphasized that these appointments will enhance the company's service to over 9 million customers and support its clean energy transition efforts in northern Illinois.

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.