Exelon Beats Expectations but Takes a Step Back Anyway
Exelon (NYS: EXC) reported earnings on May 4. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Exelon whiffed on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share shrank significantly.
Margins shrank across the board.
Exelon notched revenue of $4.69 billion. The two analysts polled by S&P Capital IQ expected revenue of $7.26 billion on the same basis. GAAP reported sales were 7.2% lower than the prior-year quarter's $5.05 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 $0.85. The nine earnings estimates compiled by S&P Capital IQ averaged $0.80 per share. GAAP EPS of $0.28 for Q1 were 72% lower than the prior-year quarter's $1.01 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 20.4%, 1,390 basis points worse than the prior-year quarter. Operating margin was 8.1%, 1,570 basis points worse than the prior-year quarter. Net margin was 4.3%, 890 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $7.30 billion. On the bottom line, the average EPS estimate is $0.72.
Next year's average estimate for revenue is $30.20 billion. The average EPS estimate is $3.04.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 1,866 members out of 1,920 rating the stock outperform, and 54 members rating it underperform. Among 417 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 409 give Exelon a green thumbs-up, and eight give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Exelon is outperform, with an average price target of $44.
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At the time this article was published 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 ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Motley Fool newsletter services have recommended buying shares of Exelon. Motley Fool newsletter services have recommended creating a write covered straddle position in 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.
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