Abstract

Exelon will release its quarterly results on February 12, 2026, Pre-Market. The preview consolidates recent financial data and forecasts to assess expected revenue, gross margin, net margin, and adjusted EPS trends, and it examines analysts’ majority view using reports and ratings published between August 05, 2025 and February 05, 2026.

Market Forecast

Consensus points to Exelon’s current quarter revenue estimate at USD 5.38 billion, with an estimated gross profit margin not disclosed, a net profit margin not disclosed, and adjusted EPS estimated at USD 0.55; year-over-year forecasts indicate revenue up 13.53% and adjusted EPS down 7.47%. Exelon’s utility subsidiaries are expected to maintain stable contributions while regulatory recovery and rate-base growth underpin near-term visibility; the most promising contribution is from Commonwealth Edison with revenue of USD 2.28 billion, though its year-over-year change is not disclosed.

Last Quarter Review

Exelon reported last quarter revenue of USD 6.71 billion, a gross profit margin of 42.37%, GAAP net profit attributable to the parent company of USD 0.88 billion, a net profit margin of 13.05%, and adjusted EPS of USD 0.86; year-over-year changes included revenue up 8.95%, adjusted EPS up 21.13%, and net profit up 123.79%. A notable highlight was solid operational execution across distribution utilities, reflected in the significant increase in GAAP net profit. Main business contributions were led by Commonwealth Edison at USD 2.28 billion, Pepco Holdings at USD 2.05 billion, Baltimore Gas and Electric at USD 1.21 billion, and PECO Energy at USD 1.18 billion; year-over-year changes for segments were not disclosed.

Current Quarter Outlook

Regulated Distribution Utilities

Exelon’s regulated distribution utilities remain the core earnings driver this quarter, with revenue guided at USD 5.38 billion and adjusted EPS estimated at USD 0.55. The earnings cadence is expected to reflect ongoing rate-base growth across jurisdictions and the timing of regulatory mechanisms, including decoupling and recovery riders. Weather-normalized demand and customer additions typically moderate quarter-to-quarter volatility, but changes in allowable returns and capital cost recognition can shift earnings mix between subsidiaries. Management’s prior quarter delivery performance and cost discipline provide a platform for maintaining margins despite modest EPS compression.

Commonwealth Edison as a Key Contributor

Commonwealth Edison stands out as a substantial revenue contributor at USD 2.28 billion last quarter, and it remains central to the earnings narrative this quarter. Investment in grid modernization, reliability initiatives, and resiliency projects supports rate-base expansion and predictable cost recovery. A stable regulatory framework in Illinois continues to be pivotal to translating capital programs into earnings visibility, though timing of rate cases and performance-based metrics can create variability. The segment’s operational execution and capital deployment are likely to anchor consolidated results even as consolidated EPS faces year-over-year pressure.

Pepco, BGE, and PECO: Balancing Growth and Cost Recovery

The combined contributions from Pepco Holdings (USD 2.05 billion), Baltimore Gas and Electric (USD 1.21 billion), and PECO Energy (USD 1.18 billion) provide balanced support for consolidated revenue and cash flows. Rate proceedings and infrastructure investments in these service territories underpin gross margin stability, while efficiency initiatives help sustain net margins approaching the prior quarter’s levels. Any deviation from normalized weather or delayed recovery of incremental costs could compress near-term profitability, but the diversified footprint across Mid-Atlantic markets mitigates single-jurisdiction shocks. These segments also offer incremental growth from customer expansion and targeted reliability upgrades.

Factors Most Impacting the Stock Price This Quarter

Investors will focus on whether Exelon can maintain revenue growth while managing EPS headwinds indicated by the forecast decline of 7.47%. The balance between rate-base growth and regulatory outcomes will be closely watched, as the cadence of approvals affects margin trajectory. Cash flow visibility from timely cost recovery, plus the impact of interest-rate conditions on financing, can amplify or dampen consolidated EPS. Execution on grid modernization and resiliency projects that translate into measurable reliability improvements could support valuation, while any guidance implying slower capital deployment or adverse rate determinations may weigh on sentiment.

Analyst Opinions

The majority of analyst commentary over the past six months has been cautiously constructive, highlighting steady rate-base growth and supportive regulatory frameworks, alongside near-term EPS pressure due to timing and cost trends. Several well-known institutions cite balanced risk-reward as Exelon advances its capital program across subsidiaries, with expectations that consolidated revenue growth will outpace EPS due to mix and rate-case timing. Analysts emphasize the importance of regulatory clarity and financing conditions; positive outcomes in pending reviews and continued operational reliability are seen as catalysts for maintaining the trajectory implied by the USD 5.38 billion revenue estimate and USD 0.55 adjusted EPS forecast. Overall, the prevailing view anticipates resilient top-line performance and manageable margin dynamics, with stock reactions tied to guidance updates and capital plan execution.