Exelon Corporation (EXC) Bundle
A Brief History of Exelon Corporation
Exelon Corporation, a leading energy provider, has undergone significant transformations and growth since its inception. As of 2024, Exelon operates through multiple subsidiaries and has established a robust presence in the energy sector.
Company Overview
Exelon Corporation was formed in 2000 through the merger of PECO Energy Company and Unicom Corporation, creating one of the largest electric utility companies in the United States. As of September 30, 2024, Exelon serves approximately 10 million customers across various states, primarily in the Mid-Atlantic and Midwest regions.
Financial Performance
For the nine months ending September 30, 2024, Exelon reported total operating revenues of $14.7 billion, an increase from $13.5 billion for the same period in 2023. The net income for the same period was $1.8 billion, compared to $1.7 billion in 2023.
| Financial Metric | 2024 (9 months) | 2023 (9 months) |
|---|---|---|
| Total Operating Revenues | $14.7 billion | $13.5 billion |
| Net Income | $1.8 billion | $1.7 billion |
Capital Expenditures
Exelon has continued to invest in its infrastructure. In 2024, the capital expenditures reached $5.2 billion, compared to $5.5 billion in 2023. The focus has been on modernizing the energy grid and enhancing renewable energy capabilities.
| Year | Capital Expenditures |
|---|---|
| 2024 | $5.2 billion |
| 2023 | $5.5 billion |
Stock Performance
Exelon's stock, traded under the ticker EXC on the NYSE, has shown resilience. As of September 30, 2024, the stock price was $47.85, reflecting a year-to-date increase of 12%. The market capitalization stood at approximately $40 billion.
Regulatory Environment
The regulatory landscape for Exelon has evolved, particularly concerning energy efficiency and renewable energy standards. Exelon has committed to reducing its carbon emissions by 50% by 2030 from 2005 levels, aligning with state and federal climate goals.
Recent Developments
In early 2024, Exelon announced a strategic partnership aimed at expanding its renewable energy portfolio, targeting an additional 3,000 MW of solar and wind capacity by 2026. This initiative is part of Exelon's broader strategy to transition towards cleaner energy sources.
Key Metrics
As of September 30, 2024, Exelon reported the following key metrics:
| Metric | Value |
|---|---|
| Subscribers | 10 million |
| Market Capitalization | $40 billion |
| Stock Price | $47.85 |
Exelon continues to adapt to the changing energy landscape while focusing on sustainable growth and shareholder value.
A Who Owns Exelon Corporation (EXC)
Ownership Structure
As of September 30, 2024, Exelon Corporation (EXC) had a total of approximately 1,006.7 million shares of common stock outstanding. The ownership of these shares is distributed among various institutional investors, mutual funds, and individual shareholders.
Top Institutional Shareholders
The following table summarizes the top institutional shareholders of Exelon Corporation as of the end of Q3 2024:
| Institution | Shares Owned (millions) | Ownership Percentage (%) |
|---|---|---|
| The Vanguard Group, Inc. | 108.4 | 10.77 |
| BlackRock, Inc. | 104.7 | 10.42 |
| State Street Corporation | 68.9 | 6.84 |
| Wellington Management Group LLP | 41.5 | 4.12 |
| FMR LLC (Fidelity) | 39.8 | 3.95 |
| Invesco Ltd. | 32.1 | 3.19 |
| JPMorgan Chase & Co. | 28.4 | 2.82 |
Individual Shareholders
In addition to institutional ownership, Exelon also has individual shareholders, though their individual holdings are significantly smaller compared to institutional investors. The company has a diverse range of retail investors, which includes individual investors through direct stock purchases and employee stock ownership plans.
Management Ownership
Management and insiders of Exelon Corporation also hold a portion of the shares. As of September 30, 2024, the management and board of directors collectively owned about 0.5% of the total shares outstanding.
Recent Stock Performance
Exelon Corporation's stock price has shown fluctuations throughout 2024. As of September 30, 2024, the stock was trading at approximately $35.50 per share. The stock has experienced a year-to-date return of around 8%, reflecting the company's performance and market conditions.
Dividend Information
Exelon Corporation has maintained a consistent dividend policy. The quarterly dividend declared in the third quarter of 2024 was $0.38 per share, with total dividends paid to shareholders for the year amounting to approximately $1.14 billion.
Shareholder Equity
The total shareholder equity for Exelon Corporation as of September 30, 2024, was reported at $26.622 billion, reflecting an increase from $25.755 billion at the end of 2023.
Summary of Shareholder Composition
The shareholder composition of Exelon Corporation as of September 30, 2024, illustrates a strong institutional presence, with top institutional shareholders owning over 40% of the company. This diversified ownership base provides stability and support for the company's strategic initiatives and growth plans.
Exelon Corporation (EXC) Mission Statement
Overview
As of 2024, Exelon Corporation's mission statement emphasizes its commitment to providing clean, affordable, and reliable energy to its customers while leading the transition to a sustainable energy future. The company aims to innovate and invest in renewable energy solutions, ensuring a diverse and resilient energy supply.
Core Values
- Integrity: Upholding ethical practices in all operations.
- Customer Focus: Prioritizing customer needs in every decision.
- Innovation: Investing in new technologies to enhance energy efficiency.
- Sustainability: Committing to environmental stewardship and reducing carbon emissions.
Financial Performance
For the nine months ending September 30, 2024, Exelon reported the following financial metrics:
| Metric | Amount (in millions) |
|---|---|
| Total Operating Revenues | $17,557 |
| Net Income | $1,813 |
| Earnings per Share (EPS) | $1.81 |
| Total Assets | $106,070 |
| Total Liabilities | $79,448 |
| Total Shareholders' Equity | $26,622 |
Strategic Initiatives
Exelon has outlined several strategic initiatives to align with its mission:
- Investment in Renewables: Plans to increase renewable energy investments by 30% by 2025.
- Grid Modernization: Implementation of smart grid technologies to improve energy efficiency and reliability.
- Customer Engagement: Launching new customer programs aimed at energy savings and sustainability.
Regulatory Compliance and Community Engagement
Exelon actively engages with regulatory bodies to ensure compliance and promote sustainable energy policies. The company has committed to achieving net-zero greenhouse gas emissions by 2050, aligning its operational strategies with state and federal regulations.
Recent Achievements
In 2024, Exelon achieved significant milestones:
- Renewable Energy Generation: Increased renewable energy generation capacity by 15% year-over-year.
- Community Investments: Invested over $50 million in community development and clean energy projects.
- Employee Engagement: Launched a new employee training program aimed at enhancing skills in renewable energy technologies.
Conclusion
Exelon Corporation's mission statement reflects its dedication to a sustainable energy future, supported by robust financial performance and a commitment to innovation and community engagement. The company continues to evolve in the energy sector, focusing on clean, reliable energy solutions for its diverse customer base.
How Exelon Corporation (EXC) Works
Overview of Operations
Exelon Corporation, operating primarily in the energy sector, is involved in the generation and distribution of electricity and natural gas. It operates through several subsidiaries including ComEd, PECO, BGE, and PHI. The company has a diverse energy portfolio that includes nuclear, renewable, and fossil fuel generation.
Financial Performance
As of September 30, 2024, Exelon reported a net income of $1,813 million, compared to $1,711 million in the same period of 2023. The company’s operating revenues for the nine months ended September 30, 2024, were $17,557 million, up from $16,360 million in 2023.
| Financial Metrics | Q3 2024 | Q3 2023 |
|---|---|---|
| Net Income | $1,813 million | $1,711 million |
| Operating Revenues | $17,557 million | $16,360 million |
| Capital Expenditures | $5,161 million | $5,540 million |
| Total Assets | $106,070 million | $101,546 million |
| Total Liabilities | $79,448 million | $75,791 million |
Revenue Breakdown by Segment
Exelon’s revenues are derived from various segments, including electric and natural gas services. The breakdown for the nine months ended September 30, 2024, is as follows:
| Segment | Electric Revenues | Natural Gas Revenues | Total Revenues |
|---|---|---|---|
| ComEd | $6,403 million | $0 million | $6,403 million |
| PECO | $2,975 million | $438 million | $2,975 million |
| BGE | $3,268 million | $680 million | $3,268 million |
| PHI | $4,938 million | $122 million | $4,938 million |
Capital Expenditures and Investments
In 2024, Exelon allocated $5,161 million towards capital expenditures, focusing on infrastructure improvements, renewable energy projects, and system upgrades. This is a slight decrease from $5,540 million in 2023.
Debt and Financing
As of September 30, 2024, Exelon’s net interest expense was $1,446 million, an increase from $1,277 million in the previous year. The company issued $4,975 million in long-term debt during the nine months ended September 30, 2024.
Shareholder Equity
Exelon's total shareholders' equity as of September 30, 2024, was $26,622 million, up from $25,755 million at the end of 2023. The company’s common stock dividends were $1,142 million in 2024 compared to $1,074 million in 2023.
| Shareholder Metrics | Q3 2024 | Q3 2023 |
|---|---|---|
| Total Shareholders' Equity | $26,622 million | $25,755 million |
| Common Stock Dividends | $1,142 million | $1,074 million |
Operating Expenses
Exelon reported total operating expenses of $14,348 million for the nine months ended September 30, 2024, which is an increase from $13,429 million in the same period of 2023. The increase in operating expenses is attributed to higher costs related to energy procurement and maintenance of facilities.
Conclusion
Exelon continues to operate as a major player in the energy sector, focusing on expanding its renewable energy portfolio while managing costs and ensuring stable returns for its shareholders.
How Exelon Corporation (EXC) Makes Money
Revenue Streams
Exelon Corporation generates revenue primarily from two major segments: electric and natural gas sales. The breakdown of revenues for the nine months ended September 30, 2024, is as follows:
| Segment | 2024 Revenue (in millions) | 2023 Revenue (in millions) |
|---|---|---|
| Electric Revenues | $16,320 | $15,056 |
| Natural Gas Revenues | $1,237 | $1,304 |
| Shared Service and Other Revenues | $0 | $0 |
| Total Operating Revenues | $17,557 | $16,360 |
Electric Revenues Breakdown
The electric revenues are further categorized by customer type, contributing to the overall revenue. For the three months ended September 30, 2024, the distribution was as follows:
| Customer Class | ComEd (in millions) | PECO (in millions) | BGE (in millions) | PHI (in millions) | Total Electric Revenues (in millions) |
|---|---|---|---|---|---|
| Residential | $1,117 | $641 | $558 | $1,016 | $2,297 |
| Small Commercial & Industrial | $603 | $153 | $96 | $203 | $1,055 |
| Large Commercial & Industrial | $286 | $73 | $154 | $365 | $878 |
| Public Authorities & Electric Railroads | $11 | $7 | $8 | $18 | $44 |
| Other | $280 | $74 | $110 | $225 | $689 |
| Total Electric Revenues | $2,297 | $948 | $926 | $1,827 | $6,048 |
Natural Gas Revenues Breakdown
Natural gas revenues for the same period are categorized as follows:
| Customer Class | PECO (in millions) | BGE (in millions) | PHI (in millions) | Total Natural Gas Revenues (in millions) |
|---|---|---|---|---|
| Residential | $44 | $58 | $11 | $113 |
| Small Commercial & Industrial | $17 | $11 | $6 | $34 |
| Large Commercial & Industrial | $0 | $32 | $1 | $33 |
| Transportation | $7 | $0 | $4 | $11 |
| Other | $2 | $3 | $1 | $6 |
| Total Natural Gas Revenues | $70 | $104 | $23 | $197 |
Operating Expenses
For the nine months ended September 30, 2024, Exelon's total operating expenses were $14,348 million, compared to $13,429 million in the previous year. The breakdown is as follows:
| Expense Type | 2024 (in millions) | 2023 (in millions) |
|---|---|---|
| Purchased Power | $6,483 | $5,766 |
| Operating and Maintenance | $3,756 | $3,535 |
| Depreciation and Amortization | $2,681 | $2,616 |
| Taxes Other than Income Taxes | $1,127 | $1,063 |
| Total Operating Expenses | $14,348 | $13,429 |
Net Income
Exelon Corporation reported a net income of $1,813 million for the nine months ended September 30, 2024, compared to $1,711 million for the same period in 2023. The detailed figures are as follows:
| Net Income Components | 2024 (in millions) | 2023 (in millions) |
|---|---|---|
| Net Income Attributable to Common Shareholders | $1,813 | $1,711 |
| Comprehensive Income | $1,803 | $1,753 |
Capital Expenditures
For the nine months ended September 30, 2024, Exelon Corporation's capital expenditures totaled $5,161 million, compared to $5,540 million in 2023. The breakdown is as follows:
| Capital Expenditures by Segment | 2024 (in millions) | 2023 (in millions) |
|---|---|---|
| ComEd | $1,619 | $1,926 |
| PECO | $1,125 | $1,068 |
| BGE | $1,033 | $986 |
| PHI | $1,343 | $1,510 |
| Other | $41 | $50 |
| Total Capital Expenditures | $5,161 | $5,540 |
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Article updated on 8 Nov 2024
Resources:
- Exelon Corporation (EXC) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Exelon Corporation (EXC)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Exelon Corporation (EXC)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.