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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Exelon
Exelon (EXC) investor relations material
Exelon Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary30 Oct, 2026
Executive summary
Q3 adjusted operating EPS was $0.87 vs. $0.86 YoY; GAAP EPS fell to $0.70 from $0.86. FY2026 adjusted EPS guidance narrowed to $2.85-$2.91.
The $41.7B investment plan and 7.9% rate-base growth support adjusted EPS growth near the top of the 5%-7% range for 2025-2029.
Reliability, affordability and disciplined investment remain priorities; transmission and storage opportunities extend the growth runway subject to approvals and cost recovery.
Financial highlights
Q3 adjusted operating earnings were $897M, or $0.87/share, versus $874M and $0.86/share in Q3 2025; Q3 revenue rose to $7.319B from $6.705B.
Q3 net income attributable to common shareholders was $729M versus $875M; diluted GAAP EPS was $0.70 versus $0.86.
Nine-month adjusted EPS was $2.20 versus $2.17; GAAP EPS was $1.98 versus $2.15.
Q3 adjusted EPS gains from approved rates, AFUDC and weather were partly offset by storm activity, depreciation, interest and taxes; favorable weather and O&M timing helped results exceed expectations.
Outlook and guidance
FY2026 adjusted operating EPS guidance narrowed to $2.85-$2.91, with a delivery target of midpoint or better.
Adjusted EPS growth is expected near the top of the 5%-7% range for 2025-2029, supported by the $41.7B plan, 7.9% rate-base growth, cost management and balanced financing.
11 GW of high-probability load is only partly reflected in the plan; ~10% is expected online by 2028 and ~three-quarters by 2034.
Opportunities beyond the plan include $12B-$17B of transmission and $3B-$7B of storage, subject to approvals, construction and recovery paths.
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Latest events from Exelon
- Board backs all nine nominees, say-on-pay, and 2025 auditor ratification.EXC
Proxy Filing - $41.7B capital plan drives 5-7% EPS growth, top-tier reliability, and strong dividend outlook.EXCInvestor presentation
- Q2 2026 adjusted EPS rose to $0.43, guidance reaffirmed, and reliability remained top-tier.EXCQ2 2026
- Q1 2026 adjusted EPS was $0.91; $41.7B capital plan and strong reliability reaffirmed.EXCQ1 2026
- Shareholders approved all proposals as leadership outlined growth, affordability, and innovation plans.EXCAGM 2026
- Proxy covers director elections, auditor ratification, say-on-pay, and major ESG progress.EXCProxy Filing
- Votes will be cast on board nominees, auditor ratification, and executive pay at the 2026 meeting.EXCProxy Filing
- 2025 adjusted EPS rose to $2.77; 2026 guidance targets 6%+ growth and $41.3B capital plan.EXCQ4 2025
- Q1 2025 Adjusted EPS up 35% year-over-year; full-year guidance and growth outlook reaffirmed.EXCQ1 2025
Next Exelon earnings date
Q4 202610 Feb, 2027
Exelon
Next Exelon earnings date
Q4 202610 Feb, 2027
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Frequently asked questions
Utility Parent Company
Exelon Corporation is an American public utility company. Exelon is structured into several subsidiaries, including Exelon Generation, and the company operates six major utilities that provide services to millions of customers. Its energy generation portfolio is diverse, featuring nuclear, wind, solar, and hydroelectric power sources. Exelon is headquartered in Chicago, Illinois, and its shares are traded on the Nasdaq.
The Merger
Exelon Corporation, a leading American energy provider, was formed in October 2000 through the merger of PECO Energy Company and Unicom. As previously mentioned, Exelon operates through various subsidiaries, including power generation, competitive energy sales, transmission, and delivery. As it grew, Exelon expanded its portfolio and geographic reach, becoming one of the largest U.S. power generators with a significant presence in the nuclear energy sector. The company has also been involved in numerous M&A deals throughout the years, further cementing its place in the industry. Some companies operating in the same sector as Exelon are Consolidated Edison, NextEra, and Duke Energy.
The Subsidiaries
Exelon Corporation operates through a network of subsidiaries, each specializing in different aspects of the energy sector. Key subsidiaries include, but are not limited to:
BGE (Baltimore Gas and Electric): Serving central Maryland, BGE provides gas and electric utility service to over 1.2 million customers.
ComEd (Commonwealth Edison): Based in Chicago, ComEd is a major electric utility serving northern Illinois, including the Chicago area.
PECO (Philadelphia Electric Company): This subsidiary is a major electric and gas utility company serving southeastern Pennsylvania.
PEP (Potomac Electric Power Company): Serving Washington, D.C., and parts of Maryland, PEP provides electric service to about 842,000 customers.
Exelon Generation
Exelon Generation, another subsidiary of Exelon Corporation, plays a crucial role in the company's power generation operations. It boasts one of the largest U.S. power generation portfolios, with a significant emphasis on nuclear energy, making Exelon the nation's largest operator of commercial nuclear power plants. Additionally, Exelon Generation operates a diverse mix of natural gas, hydroelectric, wind, and solar power facilities.