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Highlights from Exelon’s Q1 Earnings

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Exelon’s first-quarter earnings

Exelon (EXC) reported its first-quarter earnings on April 2. The company reported an EPS of $0.87, which was in line with the consensus estimates. In the same quarter last year, Exelon reported an EPS of $0.96. The company’s generation segment mainly dented its first-quarter earnings.

The adjusted net income from the generation segment fell from $474.0 million in the first quarter of 2018 to $294.0 million in the first quarter. The segment’s earnings fell due to lower realized energy prices and the absence of revenues from zero-emission credits.

EXC stk

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Exelon, one of the top gainers among utility stocks last year, continued its uptrend this year. The stock has rallied ~12% so far this year—in line with broader utilities (XLU).

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Earnings highlights

Exelon reported total revenues of $9.48 billion in the first quarter compared to revenues of $9.69 billion in the first quarter of 2018. In 2018, Exelon reported total revenues of $36.0 billion—an increase of 7.4% year-over-year.

The earnings from Exelon’s subsidiary BGE (Baltimore Gas & Electric) increased 25% in the first quarter due to regulatory rate increases. The earnings from PECO, Exelon’s electric and gas operating subsidiary in Pennsylvania, grew 48% in the first quarter compared to the first quarter of 2018.

Southern Company (SO) reported its first-quarter earnings on April 1. The EPS fell 20% compared to the first quarter of 2018 and missed analysts’ consensus estimates. Read Will Q1 Earnings Fuel Southern Company Stock’s Rally? to learn more.

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