Exelon Corporation (NASDAQ:EXC) headed north at Friday’s open, on word of quarterly earnings.
The Chicago-based company reported first-quarter revealed GAAP Net Income of $0.60 per share and Adjusted (non-GAAP) Operating Earnings of $0.87 per share.
Revising range for full year 2020 adjusted (non-GAAP) operating earnings guidance to $2.80-$3.10 per share from original guidance of $3.00-$3.30 per share
Strong utility reliability performance – every utility achieved top quartile in outage frequency and outage duration. Generations’ nuclear fleet capacity factor was 93.9% for the quarter, ahead of the industry average of 91% (based on full year 2019).
CEO Christopher Crane said, “We had another strong quarter, with each of our utilities achieving high reliability performance and our nuclear fleet completing seven of eight refueling outages – nearly all shorter than planned.
“The consistent performance of our frontline employees in providing safe and reliable service has never been more evident as we all confront the global pandemic and the devastating disruption to our economy. In recognition of these extraordinary circumstances, we are supporting customers experiencing financial hardship by suspending disconnections, waiving new late charges and reconnecting customers on request.”
Shares took on 77 cents, or 2.2%, to $35.81