Valued at a market cap of $40.1 billion, Exelon Corporation (EXC) is a leading utility services holding company operating in the energy distribution and transmission sectors. It focuses on the regulated sale and distribution of electricity and natural gas, serving various customers including residential, commercial, and governmental entities. The Chicago, Illinois-based company is expected to announce its fiscal Q3 earnings results before the market opens on Wednesday, Oct. 30.
Ahead of this event, analysts expect the energy company to report a profit of $0.67 per share, aligning with the EPS from the same quarter last year. The company has surpassed Wall Street's bottom-line estimates in two of the past four quarters while missing on two other occasions. EXC exceeded the consensus EPS estimate by 17.5% in the most recent quarter.
For fiscal 2024, analysts expect EXC to report an EPS of $2.44, an increase of 2.5% from $2.38 in fiscal 2023. Looking forward to fiscal 2025, the company’s EPS is projected to grow 7.8% year-over-year to $2.63.
In 2024, EXC has risen 11.6%, underperforming the S&P 500 Index's ($SPX) 21.8% gain and the Utilities Select Sector SPDR Fund's (XLU) 26.9% increase on a YTD basis.
Shares of Exelon rose 2.9% on Aug. 1 due to its strong Q2 2024 performance, with EPS of $0.47, beating the analyst estimate of $0.40. Revenue also surged 11.2% year-over-year to $5.4 billion, exceeding expectations, driven by higher electricity rates and strong demand from data center customers amid rising cooling needs. The MDPSC approved a $45 million rate increase for Pepco, enhancing revenue stability. Additionally, the company reaffirmed its 2024 earnings guidance of $2.40 per share - $2.50 per share, bolstering investor confidence.
Overall, analysts' consensus view on EXC stock is cautiously optimistic, with a "Moderate Buy" rating. Out of 18 analysts covering the stock, five give a "Strong Buy," 12 have a "Hold," and one gives a "Strong Sell" rating. This configuration is slightly more bullish than three months ago, with four analysts suggesting a "Strong Buy." As of writing, EXC is trading below the average analyst price target of $43.20.
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