Exelon Corporation (NASDAQ:EXC) shares rose 2.05% in premarket trading on Friday after the US utility company reported third-quarter 2026 earnings and revenue above analyst expectations, supported by higher utility rates and improved operating performance.
The company reported adjusted earnings per share of $0.87, exceeding Wall Street’s consensus estimate of $0.80 and increasing from $0.86 in the same quarter last year.
Revenue climbed 9.2% year over year to $7.32 billion, surpassing analysts’ forecasts of $6.81 billion.
Exelon Narrows Full-Year Earnings Guidance
Exelon narrowed its 2026 adjusted operating earnings guidance to between $2.85 and $2.91 per share, representing a midpoint of $2.88.
The company also reaffirmed its expectation for operating EPS compound annual growth near the upper end of its 5% to 7% target range between 2025 and 2029.
The outlook reflects continued investment in electricity infrastructure and improvements across its regulated utility businesses.
Higher Utility Rates Support Earnings Growth
Exelon’s quarterly performance benefited from increased distribution and transmission rates at ComEd, BGE and PHI.
Results were also supported by the absence of customer surcharge credits and favourable weather conditions at PECO.
“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 Chief Executive Officer Calvin Butler.
Grid Investments Strengthen Reliability
Chief Financial Officer Rob Kleczynski highlighted improvements in electricity network reliability, with Exelon’s utilities ranking first, second, fifth and sixth nationally.
The company also completed its planned debt financings for 2026, supporting continued infrastructure investment across its operations.
Exelon’s stronger-than-expected quarterly results, reaffirmed long-term earnings growth outlook and improving operational performance supported the positive market reaction.