An Update From the Earnings Season- Report on Exelon Corporation

NEW YORK, September 18, 2015 /PRNewswire/ --

ACI Association has initiated research coverage on Exelon Corporation (NYSE: EXC). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.

Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/reports?keyword=EXC

Highlights from our EXC Report include:

• Improved Second Quarter Results - On July 29, 2015, Exelon Corporation announced its financial results for the second quarter of 2015. The Company reported net income of $638 million or $0.74 per share in Q2 2015, higher than $522 million or $0.60 per share reported in the Q2 2014. Meanwhile, non-GAAP net income for the reporting period amounted to $508 million, compared to $440 million in previous year quarter. In addition, non-GAAP (operating) diluted earnings per share came at $0.59, against $0.51 in prior year quarter. As per a same day report by Zacks, consensus earnings estimate for Exelon stood at $0.51 per share for the reported quarter. Further, the Company informed that its merger with Pepco Holdings, Inc. is expected to be completed in the third quarter of 2015, subject to approval by the Public Service Commission of the District of Columbia.

• Operational Highlights -The Company informed that, its Generation's nuclear fleet, including its owned output from the Salem Generating Station and 100% of the CENG units, produced 43,805 gigawatt-hours (GWh) in Q2, compared with 41,397 GWh in Q2 2014. In addition, the number of planned refueling outage days for the period totaled to 71, less than 108 in prior year quarter. Further, the Dispatch Match rate for Generation's gas and hydro fleet was 99.2% in Q2 2015, at par with the previous year quarter level. Moreover, energy capture for the wind and solar fleet was 96.1% in the reported period, higher than 94.7% in the same period last year.

• Other Financial Updates - The Company informed that on June 11, 2015, the Company issued $4.2 billion in aggregate principal amount of Senior Notes, consisting of $550 million of 1.550% Notes due 2017, $900 million of 2.850% Notes due 2020, $1.25 billion of 3.950% Notes due 2025, $500 million of 4.950% Notes due 2035 and $1.0 billion of 5.100% Notes due 2045. In addition, on July 14, 2015, Exelon completed the settlement of its June 2014 equity offering through the issuance of 57.5 million shares of Exelon common stock.

• Management's Commentary - Highlighting the Company's performance Christopher M. Crane, Exelon's President and CEO, said, "All of our businesses continue to deliver best in class operations, benefiting our customers and shareholders. Exelon achieved earnings above our guidance range this quarter led by strong financial performance at Constellation." While revising its guidance he added, "Based on our results through June, we are narrowing our full-year operating earnings guidance to $2.35 to $2.55 per share."

To find out how this influences our rating on Exelon Corporation, read the full report in its entirety here: http://www.aciassociation.com/reports?keyword=EXC

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