By Townhall Chicago News Staff
Chicago-based Exelon Corp. on Thursday reported third-quarter adjusted operating earnings of $0.87 per share, beating expectations and prompting the utility holding company to narrow its full-year guidance range upward.
The company posted GAAP net income of $0.70 per share for the quarter, down from $0.86 per share in the third quarter of 2025. Adjusted operating earnings, however, rose to $0.87 from $0.86 per share a year earlier, according to the company’s earnings release.
Exelon narrowed its full-year 2026 adjusted operating earnings guidance to $2.85 to $2.91 per share and affirmed annualized earnings growth near the top end of 5 to 7 percent from 2025 through 2029, the release said.
“Exelon’s third-quarter results reflect disciplined investment and consistent performance across our utilities — a strategy that helped prevent outages during a summer of severe weather and kept customer rates below the national average,” Exelon President and CEO Calvin Butler said in the release.
Butler pointed to the company’s “Exelon Promise” initiative as guiding efforts to keep bills low, including battery storage and utility-generated power as long-term solutions to rising energy supply costs.
ComEd, Exelon’s Illinois subsidiary that serves roughly 4 million customers in northern Illinois, posted third-quarter adjusted operating earnings of $412 million, up from $373 million a year earlier. The increase was driven primarily by higher distribution and transmission rate base from investments to serve customers, according to the release. ComEd’s distribution earnings are not affected by weather or customer usage patterns due to revenue decoupling.
“Our investments in the grid continue to deliver for customers, with Exelon’s utilities now ranking 1st, 2nd, 5th and 6th in the nation for reliability,” Chief Financial Officer Rob Kleczynski said in the release.
PECO, Exelon’s Pennsylvania subsidiary, saw adjusted operating earnings fall to $167 million from $250 million a year earlier, primarily due to higher storm costs and the absence of extraordinary storm-cost deferrals recognized in 2025. BGE, the company’s Baltimore subsidiary, posted adjusted operating earnings of $119 million, up from $82 million.
The results come as energy costs and grid reliability remain pressing concerns for Illinois ratepayers heading into winter. Butler said the company continues to advance transmission and storage solutions that support growth and affordability.
Exelon also reported continued regulatory progress, including final orders in the Pepco Maryland base rate case. The company said it has completed its planned 2026 debt financings, supporting continued investment across its utility subsidiaries.
The company’s stock trades on the Nasdaq exchange under the ticker EXC. Exelon operates regulated utility businesses in Illinois, Pennsylvania, Maryland, New Jersey and Washington, D.C., serving approximately 10 million customers through its subsidiaries.
Exelon separated from its power generation business, Constellation Energy, in early 2022 to focus exclusively on its regulated utility operations. The earnings report covers the company’s performance during the July-through-September quarter.
Source: Exelon Newsroom
