EXC

EX-99.1

2 exc-20261030ex991.htm

EX-99.1

Document

Exhibit 99.1

News Release

Contact:  Christopher Ford Corporate Communications 312-394-7417

Ryan Brown Investor Relations 779-231-0017

EXELON REPORTS THIRD QUARTER 2026 RESULTS

Earnings Release Highlights

•GAAP net income of $0.70 per share and Adjusted (non-GAAP) operating earnings of $0.87 per share for the third quarter of 2026, above expectations

•Narrowing full year 2026 Adjusted (non-GAAP) operating earnings guidance range to $2.85-$2.91 per share and affirming operating EPS compounded annual growth near top end of 5-7% from 2025 to 2029

•Exelon’s utilities now rank 1st, 2nd, 5th, and 6th in best reliability in the nation

•Continued regulatory progress, with final orders issued in the Pepco Maryland base rate case and Maryland Lessons Learned

•Completed 2026 planned debt financings, supporting continued investment across the utilities

CHICAGO (Oct 30, 2026) — Exelon Corporation (Nasdaq: EXC) today reported its financial results for the third quarter of 2026.

“Exelon's third-quarter results reflect disciplined investment and consistent performance across our utilities – a strategy that helped prevent outages during a summer of severe weather and kept customer rates below the national average," said Exelon President and Chief Executive Officer Calvin Butler." Meanwhile, The Exelon Promise continues to guide our efforts to keep bills as low as possible, including our efforts to address the energy supply crisis at the heart of rising energy costs through long-term solutions like battery storage and utility-generated power. Exelon continues to deliver on our commitment to long-term growth and strengthening the communities we serve.”

“Exelon delivered $0.87 adjusted operating earnings per share in the third quarter,” said Exelon Chief Financial Officer Rob Kleczynski. “Our investments in the grid continue to deliver for customers, with Exelon’s utilities now ranking 1st, 2nd, 5th and 6th in the nation for reliability. With our performance for the year, we are narrowing our full-year 2026 guidance range to $2.85 to $2.91 per share, and affirming annualized earnings growth near the top end of 5% to 7% from 2025 through 2029. Looking ahead, we continue to advance transmission and storage solutions that support growth and affordability for our customers, while maintaining the financial discipline that underpins our plan.”

1

Third Quarter 2026

Exelon's GAAP net income for the third quarter of 2026 decreased to $0.70 per share from $0.86 per share in the third quarter of 2025. Adjusted (non-GAAP) operating earnings for the third quarter of 2026 increased to $0.87 per share from $0.86 per share in the third quarter of 2025. For the reconciliations of GAAP net income to Adjusted (non-GAAP) operating earnings, refer to the tables beginning on page 4.

The GAAP net income and Adjusted (non-GAAP) operating earnings in the third quarter of 2026 primarily reflect:

•Higher utility earnings primarily due to distribution and transmission rates at ComEd, BGE, and PHI associated with updated recovery rates for costs and investments to serve customers; absence of customer surcharge credits and favorable weather at PECO; higher AFUDC at ComEd; and lower contracting costs at BGE. This was partially offset by higher storm costs, interest, and depreciation expense at PECO and PHI; and higher income taxes and contracting costs at PECO.

Operating Company Results1

ComEd

ComEd's third quarter of 2026 GAAP net income increased to $406 million from $373 million in the third quarter of 2025. ComEd's Adjusted (non-GAAP) operating earnings for the third quarter of 2026 increased to $412 million from $373 million in the third quarter of 2025, primarily due to an increase in higher distribution and transmission rate base driven by incremental investments to serve customers, driving top quartile reliability and avoiding outage costs, and higher AFUDC. Due to revenue decoupling, ComEd's distribution earnings are not intended to be affected by actual weather or customer usage patterns.

PECO

PECO’s third quarter of 2026 GAAP net income decreased to $165 million from $250 million in the third quarter of 2025. PECO's Adjusted (non-GAAP) operating earnings for the third quarter of 2026 decreased to $167 million from $250 million in the third quarter of 2025, primarily due to higher storm costs resulting from the absence of extraordinary February and June storm cost deferrals recognized in 2025 and an increase in storm costs, higher income taxes due to tax repairs, a portion of which is timing, and an increase in contracting costs, depreciation, and interest expense, partially offset by absence of surcharge credits to customers and favorable weather.

BGE

BGE’s third quarter of 2026 GAAP net income increased to $90 million from $82 million in the third quarter of 2025. BGE's Adjusted (non-GAAP) operating earnings for the third quarter of 2026 increased to $119 million from $82

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EX-99.1

2 exc-20260506ex991.htm

EX-99.1

Document

Exhibit 99.1

News Release

Contact:  Khanya Brann Corporate Communications 301-535-3292

Ryan Brown Investor Relations 779-231-0017

EXELON REPORTS FIRST QUARTER 2026 RESULTS

Earnings Release Highlights

•GAAP net income of $0.90 per share and Adjusted (non-GAAP) operating earnings of $0.91 per share for the first quarter of 2026

•Affirming full year 2026 Adjusted (non-GAAP) operating earnings guidance range of $2.81-$2.91 per share and operating EPS compounded annual growth near top end of 5-7% from 2025 to 2029

•Projecting $41.7 billion of capital expenditures over the next four years, resulting in expected rate base growth of 7.9%

•All utilities sustained top quartile in reliability performance, with ComEd in top decile

•Through March 31, completed approximately 43% of planned debt financings, including all of its Holding Company issuances, and priced approximately 37% of its $3.4 billion of equity needs through 2029

CHICAGO (May 6, 2026) — Exelon Corporation (Nasdaq: EXC) today reported its financial results for the first quarter of 2026.

“Exelon is on track for another year of consistent operational and financial performance. Our scale, platform, and disciplined execution allow us to adapt as conditions evolve to continue delivering on our commitments over the long term,” said Exelon President and Chief Executive Officer Calvin Butler. “Through The Exelon Promise, we are committed to balancing affordability while advancing safety, reliability, and investments that strengthen the grid and support the communities we serve – today and in the future.”

“We delivered first quarter 2026 adjusted operating earnings of $0.91 per share while maintaining strong operational performance, continuing our track record of execution as a standalone utility,” said Exelon Chief Financial Officer Jeanne Jones. “With a revised $41.7 billion four-year capital plan, 7.9% rate base growth, and a disciplined focus on cost management, we remain well-positioned to deliver annualized earnings growth near the top end of 5% to 7% through 2029. Our results and outlook underscore the durability of our business and our ability to adapt and execute while continuing to invest in a way that balances the needs of our customers with the grid of the future.”

1

First Quarter 2026

Exelon's GAAP net income for the first quarter of 2026 remained relatively consistent with the prior period at $0.90 per share. Adjusted (non-GAAP) operating earnings for the first quarter of 2026 decreased to $0.91 per share from $0.92 per share in the first quarter of 2025. For the reconciliations of GAAP net income to Adjusted (non-GAAP) operating earnings, refer to the tables beginning on page 4.

The GAAP net income and Adjusted (non-GAAP) operating earnings in the first quarter of 2026 primarily reflect:

•Higher costs at the Exelon holding company primarily due to higher income taxes and higher interest expense.

•Higher utility earnings primarily due to approved distribution and transmission rates at ComEd and PHI, approved distribution rates at BGE, absence of customer surcharge credits at PECO, higher allowance for funds used during construction (AFUDC) at ComEd, and favorable weather and lower income taxes at PECO. This was partially offset by timing of distribution earnings at ComEd, higher depreciation expense at PECO and PHI, higher interest expense at PECO, higher credit loss expense at BGE, and unfavorable impacts of the Pepco Maryland multi-year plan reconciliation. Note that rate increases are associated with updated recovery rates for costs and investments to serve customers, driving top quartile reliability and avoiding outage costs.

Operating Company Results1

ComEd

ComEd's first quarter of 2026 GAAP net income increased to $310 million from $302 million in the first quarter of 2025. ComEd's Adjusted (non-GAAP) operating earnings for the first quarter of 2026 decreased to $310 million from $325 million in the first quarter of 2025, primarily due to timing of distribution earnings, partially offset by an increase in AFUDC and higher distribution and transmission rate base driven by incremental investments to serve customers, driving top quartile reliability and avoiding outage costs. Due to revenue decoupling, ComEd's distribution earnings are not intended to be affected by actual weather or customer usage patterns.

PECO

PECO’s first quarter of 2026 GAAP net income increased to $278 million from $266 million in the first quarter of 2025. PECO's Adjusted (non-GAAP) operating earnings for the first quarter of 2026 increased to $278 million from $265 million in the first quarter of 2025, primarily due to absence of customer surcharge credits, favorable weather, and lower income taxes due to tax repairs, some of which is timing, partially offset by an increase in depreciation and interest expense.

1 Exelon’s four business units include ComEd, which consists of electricity