Welcome to our dedicated page for Exelon news (Ticker: EXC), a resource for investors and traders seeking the latest updates and insights on Exelon stock.
Exelon Corporation (EXC) reports developments across a regulated electric and gas utility portfolio anchored by Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco. Recurring company news covers utility earnings drivers, approved distribution and transmission rates, grid investment recovery, dividend declarations and customer-affordability initiatives under The Exelon Promise.
Coverage also reflects ComEd energy efficiency programs in northern Illinois, small-business and low-income customer incentives, Illinois Commerce Commission reconciliation filings, and federal policy matters involving FERC and the PJM regional electric grid. These updates connect Exelon's transmission and distribution operations with customer costs, reliability planning and regulated rate mechanisms.
Exelon Corporation (Nasdaq: EXC) reported strong financial results for Q3 2020, with adjusted earnings of $1.04 per share, exceeding guidance of $0.80 to $0.90. Year-to-date investments of $4.5 billion aim to improve infrastructure and grid reliability. Despite challenges from the pandemic and severe weather, Exelon raised its earnings guidance for the year to $3.00-$3.20 per share. However, GAAP net income decreased to $0.51 per share from $0.79 year-over-year, primarily due to the early retirement of certain generation assets and COVID-19 impacts.
Exelon Corporation's Board of Directors has declared a quarterly dividend of $0.3825 per share on its common stock. The dividend will be paid on December 10, 2020, to shareholders recorded by November 16, 2020, at 5 p.m. Eastern time. Exelon is a Fortune 100 energy company, serving approximately 10 million customers across multiple states and Canada, with a 2019 revenue of $34 billion. It operates one of the largest competitive power generation fleets in the U.S., with a capacity of 31,000 megawatts.
ComEd has launched the ComEd STEM Home Labs, a virtual program aimed at engaging 100 Chicago-area students in STEM education during the COVID-19 pandemic. This initiative, developed by ComEd engineers and Dr. Kate Biberdorf, offers hands-on experiments focused on solar energy, electricity, and circuitry over five months. The program begins on October 24 and aims to inspire underrepresented groups in STEM fields. Students will receive kits to participate in real-time sessions, culminating in a Rube Goldberg machine project.
ComEd has launched its second year of a targeted grazing program utilizing over 200 kiko goats to manage vegetation along power lines in Illinois. This eco-friendly initiative aims to reduce the risk of power outages by clearing hard-to-reach areas without machinery. The goats, known for their efficiency, can clear one acre per week compared to a human crew. Alongside this, ComEd has introduced a social media campaign, 'Goatternship', to engage the community and educate them about the program. ComEd serves approximately 4 million customers across northern Illinois.