EXELON CORPORATION Exelon Reports Fourth Quarter and Full Year 2018 Results and Initiates 2019 Financial Outlook

  • Feb 11, 2019
  • Electric Energy

Exelon Corporation (NYSE: EXC) today (2/8) reported its financial results for the fourth quarter and full year 2018.

"This was another record-breaking year for Exelon, with our Utility and Generation businesses demonstrating best-ever performances in multiple categories thanks to the hard work of our employees, who also surpassed their previous record for volunteerism. Our ongoing strategy to invest in advanced technology and infrastructure resulted in improved resiliency, reliability and customer satisfaction at our electric and gas companies," said Chris Crane, Exelon president and CEO. "In 2019, we will grow our dividend by 5 percent and seek fair compensation for the zero-carbon power our nuclear fleet provides. We will also modernize the electric grid to address the challenges of climate change and to provide customers with clean, affordable power."

"Exelon delivered another solid financial performance in 2018, earning $3.12 per share on an adjusted (non-GAAP) operating basis, which is at the midpoint of our revised full year guidance of $3.05-$3.20 per share and $0.07 above our original midpoint," said Joe Nigro, Exelon senior executive vice president and CFO. "Over the next four years we will invest nearly $23 billion to strengthen the reliability and resiliency of our system, enable our communities to meet their low carbon energy goals and improve service to our 10 million utility customers. The successes we achieved in 2018 position us well for the year ahead, and we anticipate even more benefits from much-needed policy and market reforms."

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