2024-02-21 11:23:06 ET
Exelon Corporation (EXC)
Q4 2023 Earnings Call Transcript
February 21, 2024 10:00 AM ET
Company Participants
Andrew Plenge - Vice President, Investor Relations
Calvin Butler - President & Chief Executive Officer
Jeanne Jones - Chief Financial Officer
Gil Quiniones - Chief Executive Officer, ComEd
Conference Call Participants
Shar Pourreza - Guggenheim Partners
Nicholas Campanella - Barclays
Steve Fleishman - Wolfe Research
Julien Dumoulin-Smith - Bank of America
Ross Fowler - UBS
Presentation
Operator
Hello, and welcome to Exelon's Fourth Quarter Earnings Call. My name is Gigi, and I'll be your event specialist today. All lines have been placed on mute to prevent any background noise. Please note that today's webcast is being recorded. During the presentation, we'll have a question-and-answer session. [Operator Instructions]
It is now my pleasure to turn today's program over to Andrew Plenge, Vice President of Investor Relations. The floor is yours.
Andrew Plenge
Thank you, Gigi, and good morning, everyone. We're pleased to have you with us for our 2023 fourth quarter earnings call. Leading the call today are Calvin Butler, Exelon's President and Chief Executive Officer; and Jeanne Jones, Exelon's Chief Financial Officer. Other members of Exelon senior management team are also with us today, and they will be available to answer your questions following our prepared remarks.
Today's presentation, along with our earnings release and other financial information can be found in the Investor Relations section of Exelon's website. We'd also like to remind you that today's presentation and the associated earnings release materials contain forward-looking statements, which are subject to risks and uncertainties. You can find the cautionary statements on these risks on Slide 2 of today's presentation or in our SEC filings.
In addition, today's presentation includes references to adjusted operating earnings and other non-GAAP measures. Reconciliations between these measures and the nearest equivalent GAAP measures can be found in the appendix of our presentation and in our earnings release.
It is now my pleasure to turn the call over to Calvin Butler, Exelon's President and CEO.
Calvin Butler
Thank you, Andy, and good morning, everyone. We appreciate you joining us today. On Slide 4, we have laid out our key messages for today's call. First, we are pleased to share that final results for 2023 exceeded the midpoint of our narrowed guidance, delivering $2.38 per share of operating earnings, or almost 6% growth off of last year's guidance midpoint. This is the second year in our two years as a purely regulated T&D utility that we have delivered results in the top half of guidance. And that is despite historically mild weather in the Mid-Atlantic where PECO experienced its mildest year in the 50 years we have on record....
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Exelon Corporation (EXC) Q4 2023 Earnings Call Transcript