The 10-second takeaway
For the quarter ended June 30 (Q2), Exelon beat expectations on revenues and missed slightly on earnings per share.
Compared to the prior-year quarter, revenue shrank. Non-GAAP earnings per share contracted. GAAP earnings per share grew significantly.
Margins increased across the board.
Exelon chalked up revenue of $5.88 billion. The seven analysts polled by S&P Capital IQ expected revenue of $5.76 billion on the same basis. GAAP reported sales were 3.1% higher than the prior-year quarter's $5.95 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
EPS came in at $0.53. The 20 earnings estimates compiled by S&P Capital IQ predicted $0.54 per share. Non-GAAP EPS of $0.53 for Q2 were 13% lower than the prior-year quarter's $0.61 per share. GAAP EPS of $0.57 for Q2 were 73% higher than the prior-year quarter's $0.33 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
For the quarter, gross margin was 29.8%, 370 basis points better than the prior-year quarter. Operating margin was 16.7%, 310 basis points better than the prior-year quarter. Net margin was 8.0%, 320 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $6.46 billion. On the bottom line, the average EPS estimate is $0.68.
Next year's average estimate for revenue is $24.26 billion. The average EPS estimate is $2.48.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,847 members out of 1,914 rating the stock outperform, and 67 members rating it underperform. Among 413 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 398 give Exelon a green thumbs-up, and 15 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 $34.85.
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