The 10-second takeaway
For the quarter ended March 31 (Q1), Exelon crushed expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. Non-GAAP earnings per share dropped significantly. GAAP earnings per share contracted to a loss.
Margins contracted across the board.
Exelon reported revenue of $6.89 billion. The two analysts polled by S&P Capital IQ hoped for net sales of $5.34 billion on the same basis. GAAP reported sales were 30% higher than the prior-year quarter's $4.69 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.70. The 16 earnings estimates compiled by S&P Capital IQ predicted $0.68 per share. Non-GAAP EPS of $0.70 for Q1 were 18% lower than the prior-year quarter's $0.85 per share. GAAP EPS were -$0.01 for Q1 versus $0.28 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 22.0%, 610 basis points worse than the prior-year quarter. Operating margin was 8.5%, 730 basis points worse than the prior-year quarter. Net margin was -0.1%, 440 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $5.86 billion. On the bottom line, the average EPS estimate is $0.55.
Next year's average estimate for revenue is $24.71 billion. The average EPS estimate is $2.50.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 1,885 members out of 1,946 rating the stock outperform, and 61 members rating it underperform. Among 441 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 425 give Exelon a green thumbs-up, and 16 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Exelon is hold, with an average price target of $33.45.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool recommends Exelon. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.