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Exelon Corporation
Exelon Reports Second Quarter 2017 Results



Aug 7, 2017

Earnings Release Highlights

  • GAAP Net Income of $0.09 per share and Adjusted Operating Earnings of $0.54 per share for the second quarter of 2017
  • Reaffirming full year 2017 Adjusted Operating Earnings guidance of $2.50 to $2.80 per share
  • Strong utility performance to the benefit of our customers, with every utility achieving top quartile CAIDI performance as well as BGE and ComEd achieving their best ever SAIFI performance
  • Courts grant motions to dismiss legal challenges to the ZEC programs in Illinois and New York, preserving the economic and environmental benefits of this carbon-free generation
  • Exelon Nuclear completed six refueling outages with fewer unplanned outage days than a year ago
  • Two new combined-cycle gas turbines totaling nearly 2,200 MWs in Texas went into service, on-time and on-budget

Exelon Corporation (NYSE: EXC) today reported its financial results for the second quarter 2017.

"Exelon delivered a strong second quarter for our shareholders and customers as we continued to make gains in reliability, customer service and operational performance across our business," said Christopher M. Crane, Exelon's president and CEO. "Exelon can continue to provide reliable and affordable carbon-free power while preserving high-value jobs thanks to the dismissal of challenges to Zero Emissions Credit programs by courts in Illinois and New York, a win for our customers, the economy and the environment. We also were recognized with several leadership awards including being one of only 27 companies in the Billion Dollar Roundtable, recognizing our nearly $2 billion of spending with diverse and minority-owned businesses. We were also named to the Points of Light Civic 50 list of the most community-minded companies, a true credit to our people who give back their time and resources volunteering in the communities where we work and live."

"Exelon once again delivered strong financial performance with non-GAAP operating earnings of $0.54 per share, which is toward the upper end of our guidance range," said Jonathan W. Thayer, Exelon's senior executive vice president and CFO. "Exelon remains on track to meet our full-year guidance of $2.50-2.80 per share as well as our debt reduction targets."

Second Quarter 2017

Exelon's GAAP Net Income for the second quarter 2017 decreased to $0.09 per share from $0.29 per share in the second quarter of 2016; Adjusted (non-GAAP) Operating Earnings decreased to $0.54 per share in the second quarter of 2017 from $0.65 per share in the second quarter of 2016. For the reconciliations of GAAP to Adjusted (non-GAAP) Operating Earnings, refer to the tables below.

Adjusted (non-GAAP) Operating Earnings in the second quarter of 2017 reflect the conclusion of the Ginna reliability support services agreement, increased nuclear outage days and lower realized energy prices, partially offset by Zero Emission Credit revenue related to the New York Clean Energy Standard and higher utility earnings due to regulatory rate increases.

Click here to read the full press release.

For more information:

Organization:
Exelon Corporation

Address:
10 S Dearborn St - 37th Fl
Chicago, Illinois
United States, 60690-5398
www.exeloncorp.com
Tel: 312-394-7398


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