Summary
Exelon Corporation, a utility services holding company, reported its 2015 annual results, highlighting a strong performance driven by its generation segment and regulated utilities. The company's strategic focus on operational excellence and financial discipline continues to yield positive results, with net income attributable to common shareholders increasing to $2,269 million in 2015 from $1,623 million in 2014. This improvement was largely due to higher revenues net of purchased power and fuel expenses at its Generation segment, benefiting from the full-year consolidation of CENG and favorable market conditions, alongside a decrease in operating and maintenance expenses primarily due to lower impairment charges. The company's regulated utilities, ComEd, PECO, and BGE, also demonstrated resilience, with increased distribution and transmission revenues driven by capital investments in infrastructure modernization and smart grid initiatives. Exelon's pending merger with Pepco Holdings, Inc. (PHI) is progressing with key regulatory approvals secured, though still awaiting a final decision from the DCPSC. The company is actively managing its capital structure, maintaining investment-grade credit metrics, and returning value to shareholders through dividends, with a revised policy to increase dividends by 2.5% annually over the next three years. Exelon remains focused on strategic growth opportunities in both its regulated and competitive businesses, while navigating evolving market and regulatory landscapes.
Financial Highlights
53 data points| Revenue | $29.45B |
| Operating Expenses | $25.06B |
| Operating Income | $4.41B |
| Interest Expense | $992.00M |
| Net Income | $2.27B |
| EPS (Basic) | $2.55 |
| EPS (Diluted) | $2.54 |
| Shares Outstanding (Basic) | 890.00M |
| Shares Outstanding (Diluted) | 893.00M |
Key Highlights
- 1Exelon reported a significant increase in net income attributable to common shareholders to $2,269 million in 2015, up from $1,623 million in 2014, reflecting strong operational performance across its business segments.
- 2The Generation segment saw improved revenues due to the full-year consolidation of CENG, favorable market conditions, and effective portfolio management, alongside a reduction in operating and maintenance expenses driven by lower impairment charges.
- 3Regulated utilities ComEd, PECO, and BGE benefited from increased revenues due to capital investments in infrastructure modernization and smart grid initiatives.
- 4The pending merger with Pepco Holdings, Inc. (PHI) is progressing, with several key regulatory approvals obtained, although a final DCPSC decision is still awaited.
- 5Exelon maintained financial discipline, focusing on investment-grade credit metrics and a revised dividend policy indicating a 2.5% annual increase over the next three years.
- 6The company continued to manage commodity price risk through its hedging strategies, with a significant portion of its expected generation hedged for 2016 and 2017.
- 7Exelon highlighted its commitment to strategic growth, with ongoing investments in regulated infrastructure and competitive energy businesses, aiming for stable earnings growth.