Exelon (EXC) Q4 Earnings on Par With Estimates, Revenues Beat
Exelon Corporation’s EXC fourth-quarter 2022 earnings of 43 cents per share are on par with the Zacks Consensus Estimate. The earnings of the company improved 10.2% from the year-ago level.
On a GAAP basis, fourth-quarter earnings were 43 cents per share compared with 31 cents in the year-ago quarter.
In 2022, operating earnings per share were $2.27, up 24.1% from $1.83 in 2021. The earnings per share were within the guidance range of $2.21-$2.29 per share.
Total Revenues
Exelon's fourth-quarter total revenues of $4,667 million surpassed the Zacks Consensus Estimate of $4,520 million by 3.2%. The top line was 5.5% higher than the year-ago figure of $4,424 million.
Exelon Corporation Price, Consensus and EPS Surprise
Exelon Corporation price-consensus-eps-surprise-chart | Exelon Corporation Quote
Highlights of the Release
Exelon's fourth-quarter total operating expenses increased 1.5% year over year to $3.95 billion. The increase was due to higher operating and maintenance expenses.
Operating income was $710 million, up 36% year over year.
Interest expenses totaled $365 million, up 19.6% from the year-ago quarter.
Financial Highlights
Cash and cash equivalents were $407 million as of Dec 31, 2022 compared with $672 million as of Dec 31, 2021.
Long-term debt was $35,272 million as of Dec 31, 2022 compared with $30,749 million as of Dec 31, 2021.
Cash provided by operating activities in 2022 was $4,870 million compared with $3,012 million in 2021.
Guidance
Exelon provided 2023 earnings guidance in the range of $2.30-$2.42 per share. The midpoint of the guided range is $2.36, which is on par with the Zacks Consensus Estimate for the same period. The company reaffirmed 6-8% long-term earnings per share growth for the 2022-2026 time period.
Exelon expects its capital expenditure for the 2023-2026 time period to be $31.3 billion to meet customer requirements and further strengthen its transmission and distribution operations.
Zacks Rank
Exelon has a Zacks Rank #3 (Hold) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Other Releases
NextEra Energy, Inc. NEE reported fourth-quarter 2022 adjusted earnings of 51 cents per share, which beat the Zacks Consensus Estimate of 50 cents by 2%.
The Zacks Consensus Estimate for NEE’s 2023 earnings per share is $3.12, implying year-over-year growth of 7.6%.
Dominion Energy Inc. D reported fourth-quarter 2022 operating earnings of $1.06 per share, which surpassed the Zacks Consensus Estimate of $1.03 per share by 2.9%.
The Zacks Consensus Estimate for Dominion’s 2023 earnings per share is $4.02, suggesting a year-over-year decline of 2.2%.
Xcel Energy Inc. XEL posted fourth-quarter 2022 operating earnings of 69 cents per share, which were on par with the Zacks Consensus Estimate.
The Zacks Consensus Estimate for XEL’s 2023 earnings per share is $3.37, suggesting year-over-year growth of 6.31%.
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Exelon Corporation (EXC) : Free Stock Analysis Report
Xcel Energy Inc. (XEL) : Free Stock Analysis Report
NextEra Energy, Inc. (NEE) : Free Stock Analysis Report
Dominion Energy Inc. (D) : Free Stock Analysis Report
