Exelon Corp.

Strong Financial Performance: Exelon reported GAAP earnings for 2024 of $2.45 per share and adjusted operating earnings of $2.50 per share, marking the third consecutive year of meeting or exceeding guidance. The company expects annualized earnings growth of 5% to 7% through 2028, starting with an operating earnings guidance of $2.64 to $2.74 per share for 2025.

Capital Investment Plan: Exelon plans to invest $38 billion from 2025 to 2028, with over 80% of this attributed to transmission projects. The company’s focus on high-density load projects, particularly in Northern Illinois, demonstrates a commitment to reliability and economic development, potentially creating over 70,000 jobs.

Challenges with Regulatory Filings in Maryland: Exelon is navigating reconciliation decisions affecting rate cases, with expectations of final outcomes in the first half of 2025. The successful resolution of these cases is critical as they establish necessary funding and predictability for future investments and customer service.