Analyst Consensus ?
ConsensusHold36 ratings
Bullish1336.1%
Neutral2158.3%
Bearish25.6%
Exelon Corporation · EXC · FY2025 Q3 · Calendar Q4 2025
Exelon reaffirms guidance as large-load pipeline expands
The supplied analysis supports a constructive but conditional view: Exelon's reaffirmed guidance, transmission opportunity and large-load pipeline provide a growth framework, while execution, regulation, tax treatment and financing remain important constraints.
Reported Before market openNASDAQUtilities
$41.96B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.86
Consensus $0.78
EPS surprise
+10.5%
Reported versus consensus
Reported revenue
$6.71B
Consensus $6.43B
Revenue surprise
+4.3%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+0.4%
Event window
SPY move
-1.2%
Same window
Abnormal move
+1.6%
Stock minus SPY
Volume
2.0×
Versus trailing sessions
Subsequent drift
-4.0%
Up to 20 sessions
EXCSPY benchmark
Ask FN2 about EXC FY2025 Q3
Transcript, numbers and history already loaded
Why did EXC rise 0.4% after beating EPS estimates in FY2025 Q3?What changed in EXC's guidance and outlook in FY2025 Q3?Give me the bull and bear case for EXC after FY2025 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Relative to the prior analysis, the large-load pipeline is now described at 47 GW, with 19–27 GW in TSA or cluster-study stages. Management also emphasized improved reliability rankings, additional regulatory opportunities and continued financing measures while reaffirming guidance.
Guidance delta
Maintained: 2025 earnings guidance was reaffirmed, with no change indicated in the supplied analysis.
Key takeaways
- Q3 adjusted EPS exceeded forecasts, while 2025 earnings guidance was reaffirmed.
- Management highlighted a 47 GW large-load pipeline, with 19–27 GW in TSA or cluster-study stages.
- Transmission investment, rate-case recoveries and clean-energy legislation remain central to the growth framework.
- Reliability rankings improved, and management pointed to debt issuance, equity hedging and low-cost capital.
Management priorities
- Advance large-load transmission service agreements and transmission projects.
- Pursue rate-case recoveries and cost-controlled growth while targeting a 9–10% ROE.
- Support clean-energy, storage and distributed-generation initiatives.
- Use equity hedging and debt issuance to fund capital programs.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$40.73Current
$39Low
$48.17Average
$63High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 5, 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 $40.73. 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 | +20.3% | Sep 22, 2026 |
| Morgan Stanley | Analyst unavailable | $50 | $42.1 | +22.8% | Sep 18, 2026 |
| Truist Financial | Analyst unavailable | $48 | $45.51 | +17.8% | Aug 13, 2026 |
| Truist Financial | Richard Sunderland | $49 | $45.6 | +20.3% | May 29, 2026 |
| KeyBanc | Analyst unavailable | $41 | $44.98 | +0.7% | May 13, 2026 |
| Morgan Stanley | David Arcaro | $55 | $46.41 | +35.0% | Apr 21, 2026 |
| KeyBanc | Analyst unavailable | $43 | $46.4 | +5.6% | Apr 21, 2026 |
| Wells Fargo | Analyst unavailable | $50 | $46.4 | +22.8% | Apr 21, 2026 |
| Truist Financial | Richard Sunderland | $50 | $46.4 | +22.8% | Apr 20, 2026 |
| RBC Capital | Stephen D'Ambrisi | $48 | $47.2 | +17.8% | Apr 20, 2026 |
| Jefferies | Analyst unavailable | $50 | $47.02 | +22.8% | Apr 20, 2026 |
| Mizuho Securities | Anthony Crowdell | $48 | $47.59 | +17.8% | Apr 17, 2026 |
| BMO Capital | Analyst unavailable | $49 | $47.59 | +20.3% | Apr 17, 2026 |
| UBS | Analyst unavailable | $51 | $47.34 | +25.2% | Feb 20, 2026 |
| Scotiabank | Analyst unavailable | $47 | $48.69 | +15.4% | Feb 13, 2026 |
| Mizuho Securities | Analyst unavailable | $51 | $47.55 | +25.2% | Feb 13, 2026 |
| BMO Capital | Analyst unavailable | $51 | $47.88 | +25.2% | Feb 13, 2026 |
| Barclays | Nicholas Campanella | $50 | $45 | +22.8% | Jan 22, 2026 |
| Morgan Stanley | David Arcaro | $51 | $44.7 | +25.2% | Jan 21, 2026 |
| Wells Fargo | Shahriar Pourreza | $51 | $44.73 | +25.2% | Jan 20, 2026 |
| RBC Capital | Stephen D'Ambrisi | $51 | $43.84 | +25.2% | Jan 7, 2026 |
| UBS | Analyst unavailable | $48 | $43.76 | +17.8% | Dec 17, 2025 |
| KeyBanc | Analyst unavailable | $39 | $43.1 | -4.2% | Dec 12, 2025 |
| Morgan Stanley | David Arcaro | $52 | $45.48 | +27.7% | Nov 20, 2025 |
| Morgan Stanley | Analyst unavailable | $53 | $48.34 | +30.1% | Oct 22, 2025 |
| Jefferies | Analyst unavailable | $57 | $47.79 | +39.9% | Oct 15, 2025 |
| KeyBanc | Analyst unavailable | $42 | $47.38 | +3.1% | Oct 15, 2025 |
| Jefferies | Analyst unavailable | $59 | $47.38 | +44.9% | Oct 15, 2025 |
| Barclays | Nicholas Campanella | $52 | $46.85 | +27.7% | Oct 14, 2025 |
| UBS | Analyst unavailable | $50 | $46.66 | +22.8% | Oct 10, 2025 |
| Evercore ISI | Analyst unavailable | $57 | $45.69 | +39.9% | Oct 6, 2025 |
| Guggenheim | Shahriar Pourreza | $47 | $47.37 | +15.4% | Apr 22, 2025 |
| Jefferies | Julien Dumoulin-Smith | $46 | $39.29 | +12.9% | Sep 19, 2024 |
| BMO Capital | James Thalacker | $42 | $37.89 | +3.1% | May 3, 2024 |
| Wolfe Research | Steve Fleishman | $40 | $37.57 | -1.8% | Apr 1, 2024 |
| Argus Research | Jacob Kilstein | $45 | $36.56 | +10.5% | Mar 20, 2024 |
| Mizuho Securities | Paul Fremont | $39 | $36.64 | -4.2% | Jan 10, 2024 |
| Morgan Stanley | Analyst unavailable | $49 | $42.38 | +20.3% | Dec 15, 2022 |
| Morgan Stanley | Analyst unavailable | $46 | $38.75 | +12.9% | Nov 11, 2022 |
| Wells Fargo | Analyst unavailable | $52 | $48.42 | +27.7% | Apr 27, 2022 |
| Morgan Stanley | Analyst unavailable | $54 | $50.23 | +32.6% | Apr 20, 2022 |
| Goldman Sachs | Michael Lapides | $44 | $43.43 | +8.0% | Feb 3, 2022 |
| Wells Fargo | Neil Kalton | $45 | $43.43 | +10.5% | Feb 3, 2022 |
| RBC Capital | Shelby Tucker | $46 | $43.43 | +12.9% | Feb 3, 2022 |
| Vertical Research | Jonathan Arnold | $45 | $42.51 | +10.5% | Feb 2, 2022 |
| Evercore ISI | Durgesh Chopra | $63 | $39.22 | +54.7% | 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
Who reports nextBeat on EPS
- ACNFY2026 Q4 · October 1, 2026+3.5% EPS+15.8% move
- MKCFY2026 Q3 · October 1, 2026+13.9% EPS-4.9% move
- NKEFY2027 Q1 · October 1, 2026+10.0% EPS-0.7% move
- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% move
Get the EXC recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-10-05T00:00:44.184838+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-05T00:00:44.182139+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 2026-10-05. For educational purposes only; not investment advice.