HighGravityDataExelon — Feb 12, 2025 release
Fiscal 2024 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001109357-25-000041
Showing in the filing
Adjusted (non-GAAP) operating earnings
“$2.64-$2.74 per share”
Period
FY2025
Measure
Company-defined measure
Source
Prose
All guidance in this release · 10
Quarterly dividend for Q1 FY2025
“$0.40 per share”
Expected total dividend payout ratio for FY2025
“approximate 60% payout of Adjusted (non-GAAP) operating earnings per share”
Capital expenditures
“$38 billion”
Capital expenditures increase versus prior p…
“an increase of 10% versus the prior plan”
Rate base growth for FY2024
“7.4%”
Operating EPS compounded annual growth for the long term
“5-7%”
Additional equity in 4-year financing plan
“$1.4 billion”
Incremental capital expenditures
“$3.5 billion”
Implied total annual equity needs for FY2025–2028
“$700 million per year”
Adjusted (non-GAAP) operating earnings for FY2025
“$2.64-$2.74 per share”
Exhibit 99.1 · the passage around this item
… earlier in the release
___________ 1 Exelon’s four business units include ComEd, which consists of electricity transmission and distribution operations in northern Illinois; PECO, which consists of electricity transmission and distribution operations and retail natural gas distribution operations in southeastern Pennsylvania; BGE, which consists of electricity transmission and distribution operations and retail natural gas distribution operations in central Maryland; and PHI, which consists of electricity transmission and distribution operations in the District of Columbia and portions of Maryland, Delaware, and New Jersey and retail natural gas distribution operations in northern Delaware. 3 Initiates Annual Guidance for 2025 Exelon introduced a guidance range for 2025 Adjusted (non-GAAP) operating earnings of $2.64-$2.74 per share. There are no adjustments between 2025 projected GAAP earnings and Adjusted (non-GAAP) operating earnings currently. Recent Developments and Fourth Quarter Highlights • Dividend: On February 12, 2025, Exelon’s Board of Directors declared a regular quarterly dividend of $0.40 per share on Exelon’s common stock. The dividend is payable on March 14, 2025, Exelon shareholders of record as of the close of business on February 24, 2025. • Rate Case Developments: ◦ ComEd Distribution Formula Rate Reconciliation: On October 31, 2024, the Illinois Commerce Commission (ICC) issued a final order under Rider Delivery Service Pricing Reconciliation. The ICC approved a total requested revenue requirement increase of $623 million, reflecting an ROE of 9.89%. The 2024 filing reconciled the delivery service rates in effect in 2023 with the actual delivery service costs incurred in 2023. ◦ ComEd Refiled Grid Plan and Multi-Year Rate Plan (MRP): On December 19, 2024, the ICC approved the Refiled Grid Plan and adjusted the approved MRP with rates effective on January 1, 2025. The final order is inclusive of rate increases of approximately $752 million in 2024, $80 million in 2025, $102 million in 202
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.