Analyst Consensus ?
ConsensusHold36 ratings
Bullish1336.1%
Neutral2158.3%
Bearish25.6%
Exelon Corporation · EXC · FY2025 Q2 · Calendar Q3 2025
Exelon beats estimates as transmission and large-load pipelines advance
Exelon's earnings profile remains supported by resilient regulated operations and large transmission and load opportunities, but the next phase depends on converting those pipelines into approved, financed projects without worsening affordability pressures.
Reported Before market openNASDAQUtilities
$42.75B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.39
Consensus $0.37
EPS surprise
+6.2%
Reported versus consensus
Reported revenue
$5.43B
Consensus $5.38B
Revenue surprise
+0.9%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+1.5%
Event window
SPY move
-0.4%
Same window
Abnormal move
+1.9%
Stock minus SPY
Volume
2.3×
Versus trailing sessions
Subsequent drift
-2.6%
Up to 20 sessions
EXCSPY benchmark
Ask FN2 about EXC FY2025 Q2
Transcript, numbers and history already loaded
Why did EXC rise 1.5% after beating EPS estimates in FY2025 Q2?What changed in EXC's guidance and outlook in FY2025 Q2?Give me the bull and bear case for EXC after FY2025 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior-quarter analysis, management continued to describe a confident, increasing-capex trajectory while emphasizing a $10-$15 billion transmission opportunity, large-load studies, utility-owned generation pilots, and additional financing progress. The central investor question remains execution across regulatory approvals, customer affordability, and project funding.
Guidance delta
Maintained; full-year earnings guidance remains $2.64-$2.74 per share.
Key takeaways
- Operating earnings beat expectations while full-year guidance remained unchanged.
- Management highlighted a $10-$15 billion transmission investment opportunity and a large-load pipeline exceeding 30 GW.
- Growth plans are balanced by storm costs, capacity-market volatility, regulatory timing, and financing execution.
Management priorities
- Advance transmission projects, including Tri-County and MISO Tranche 2.1.
- Progress large-load cluster studies in Illinois and the Mid-Atlantic.
- Pursue utility-owned generation pilots and continue financing the capital plan.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$41.76Current
$39Low
$48.17Average
$63High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 9, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Argus Research | Buy | Buy | Maintain | Sep 22, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Sep 18, 2026 |
| Truist Securities | Hold | Hold | Maintain | Aug 13, 2026 |
| TD Cowen | Hold | Hold | Maintain | May 15, 2026 |
| Keybanc | Underweight | Underweight | Maintain | May 13, 2026 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Apr 20, 2026 |
| Jefferies | Hold | Buy | Downgrade | Apr 20, 2026 |
| BMO Capital | Market Perform | Outperform | Downgrade | Apr 17, 2026 |
| Barclays | Equal Weight | Overweight | Downgrade | Apr 17, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Mar 12, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Mar 5, 2026 |
| UBS | Neutral | Neutral | Maintain | Feb 20, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Feb 13, 2026 |
| Scotiabank | Sector Perform | Sector Perform | Maintain | Feb 13, 2026 |
| Mizuho | Outperform | Outperform | Maintain | Feb 13, 2026 |
| Guggenheim | Buy | Buy | Maintain | May 2, 2025 |
| B of A Securities | Neutral | Neutral | Maintain | Jan 19, 2024 |
| Seaport Global | Neutral | Buy | Downgrade | Jan 8, 2024 |
| Goldman Sachs | Sell | Sell | Maintain | Jun 8, 2023 |
| Credit Suisse | Outperform | Outperform | Maintain | Jan 23, 2023 |
| Vertical Research | Hold | Buy | Downgrade | Feb 3, 2022 |
| Citigroup | Neutral | Neutral | Maintain | Jan 27, 2020 |
| Macquarie | Outperform | Outperform | Maintain | Sep 24, 2018 |
| SunTrust Robinson Humphrey | Hold | Buy | Downgrade | Sep 11, 2018 |
| Argus | Buy | Hold | Upgrade | May 5, 2018 |
| Bank of America | Buy | Buy | Maintain | May 3, 2018 |
| Deutsche Bank | Buy | Buy | Maintain | Aug 11, 2016 |
| Wolfe Research | Peer Perform | Outperform | Downgrade | Mar 24, 2016 |
| Scotia Howard Weil | Perform | Sector Perform | Maintain | Nov 17, 2015 |
| Tudor Pickering | Accumulate | Hold | Upgrade | Mar 11, 2015 |
| ISI Group | Buy | Neutral | Upgrade | Oct 1, 2014 |
| Tigress Financial | Neutral | Neutral | Maintain | Aug 8, 2014 |
| Edward Jones | Hold | Sell | Upgrade | Jul 31, 2014 |
| Wunderlich Securities | Hold | Hold | Maintain | Aug 1, 2013 |
| Wunderlich | Hold | Hold | Maintain | Aug 1, 2013 |
| Drexel Hamilton | Buy | Hold | Upgrade | Jul 18, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $41.76. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Argus Research | Marie Ferguson | $49 | $41.98 | +17.3% | Sep 22, 2026 |
| Morgan Stanley | Analyst unavailable | $50 | $42.1 | +19.7% | Sep 18, 2026 |
| Truist Financial | Analyst unavailable | $48 | $45.51 | +14.9% | Aug 13, 2026 |
| Truist Financial | Richard Sunderland | $49 | $45.6 | +17.3% | May 29, 2026 |
| KeyBanc | Analyst unavailable | $41 | $44.98 | -1.8% | May 13, 2026 |
| Morgan Stanley | David Arcaro | $55 | $46.41 | +31.7% | Apr 21, 2026 |
| KeyBanc | Analyst unavailable | $43 | $46.4 | +3.0% | Apr 21, 2026 |
| Wells Fargo | Analyst unavailable | $50 | $46.4 | +19.7% | Apr 21, 2026 |
| Truist Financial | Richard Sunderland | $50 | $46.4 | +19.7% | Apr 20, 2026 |
| RBC Capital | Stephen D'Ambrisi | $48 | $47.2 | +14.9% | Apr 20, 2026 |
| Jefferies | Analyst unavailable | $50 | $47.02 | +19.7% | Apr 20, 2026 |
| Mizuho Securities | Anthony Crowdell | $48 | $47.59 | +14.9% | Apr 17, 2026 |
| BMO Capital | Analyst unavailable | $49 | $47.59 | +17.3% | Apr 17, 2026 |
| UBS | Analyst unavailable | $51 | $47.34 | +22.1% | Feb 20, 2026 |
| Scotiabank | Analyst unavailable | $47 | $48.69 | +12.5% | Feb 13, 2026 |
| Mizuho Securities | Analyst unavailable | $51 | $47.55 | +22.1% | Feb 13, 2026 |
| BMO Capital | Analyst unavailable | $51 | $47.88 | +22.1% | Feb 13, 2026 |
| Barclays | Nicholas Campanella | $50 | $45 | +19.7% | Jan 22, 2026 |
| Morgan Stanley | David Arcaro | $51 | $44.7 | +22.1% | Jan 21, 2026 |
| Wells Fargo | Shahriar Pourreza | $51 | $44.73 | +22.1% | Jan 20, 2026 |
| RBC Capital | Stephen D'Ambrisi | $51 | $43.84 | +22.1% | Jan 7, 2026 |
| UBS | Analyst unavailable | $48 | $43.76 | +14.9% | Dec 17, 2025 |
| KeyBanc | Analyst unavailable | $39 | $43.1 | -6.6% | Dec 12, 2025 |
| Morgan Stanley | David Arcaro | $52 | $45.48 | +24.5% | Nov 20, 2025 |
| Morgan Stanley | Analyst unavailable | $53 | $48.34 | +26.9% | Oct 22, 2025 |
| Jefferies | Analyst unavailable | $57 | $47.79 | +36.5% | Oct 15, 2025 |
| KeyBanc | Analyst unavailable | $42 | $47.38 | +0.6% | Oct 15, 2025 |
| Jefferies | Analyst unavailable | $59 | $47.38 | +41.3% | Oct 15, 2025 |
| Barclays | Nicholas Campanella | $52 | $46.85 | +24.5% | Oct 14, 2025 |
| UBS | Analyst unavailable | $50 | $46.66 | +19.7% | Oct 10, 2025 |
| Evercore ISI | Analyst unavailable | $57 | $45.69 | +36.5% | Oct 6, 2025 |
| Guggenheim | Shahriar Pourreza | $47 | $47.37 | +12.5% | Apr 22, 2025 |
| Jefferies | Julien Dumoulin-Smith | $46 | $39.29 | +10.2% | Sep 19, 2024 |
| BMO Capital | James Thalacker | $42 | $37.89 | +0.6% | May 3, 2024 |
| Wolfe Research | Steve Fleishman | $40 | $37.57 | -4.2% | Apr 1, 2024 |
| Argus Research | Jacob Kilstein | $45 | $36.56 | +7.8% | Mar 20, 2024 |
| Mizuho Securities | Paul Fremont | $39 | $36.64 | -6.6% | Jan 10, 2024 |
| Morgan Stanley | Analyst unavailable | $49 | $42.38 | +17.3% | Dec 15, 2022 |
| Morgan Stanley | Analyst unavailable | $46 | $38.75 | +10.2% | Nov 11, 2022 |
| Wells Fargo | Analyst unavailable | $52 | $48.42 | +24.5% | Apr 27, 2022 |
| Morgan Stanley | Analyst unavailable | $54 | $50.23 | +29.3% | Apr 20, 2022 |
| Goldman Sachs | Michael Lapides | $44 | $43.43 | +5.4% | Feb 3, 2022 |
| Wells Fargo | Neil Kalton | $45 | $43.43 | +7.8% | Feb 3, 2022 |
| RBC Capital | Shelby Tucker | $46 | $43.43 | +10.2% | Feb 3, 2022 |
| Vertical Research | Jonathan Arnold | $45 | $42.51 | +7.8% | Feb 2, 2022 |
| Evercore ISI | Durgesh Chopra | $63 | $39.22 | +50.9% | Jan 25, 2022 |
Track every rating change on EXC the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationExelon Corporation, a utility holding company established in 1999 and headquartered in Chicago, Illinois, operates across the United States and Canada. The company primarily focuses on the generation, delivery, and marketing of energy. It maintains a diverse portfolio of power production facilities, utilizing nuclear, fossil fuel, wind, hydroelectric, biomass, and solar technologies. Exelon engages in the sale of electricity to both wholesale and retail clients, while also providing natural gas, renewable energy solutions, and various other energy-related products and services.…
Historical context
All EXC earningsLatest beats and misses
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:55.686058+00:00
- Polygon adjusted daily market bars · 2026-10-09T21:00:44.079467+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-09T21:00:44.076488+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-09. For educational purposes only; not investment advice.