Report
Travis Miller
EUR 98.48 For Business Accounts Only

Exelon's Core Growth Intact as We Await Initial Decisions in Nuclear Subsidy Challenges

We are reaffirming our $32 per share fair value estimate, narrow moat and stable moat trend for Exelon after the company announced earning $0.65 per share on an adjusted basis during the first quarter of 2017, down from $0.68 per share in the first quarter of 2016. Earnings are tracking in line with our 2017 full-year estimate, and management reaffirmed its $2.50-$2.80 per share guidance range.
As expected, Exelon's wholesale generation fleet continues to be a drag on earnings with lower energy,...
Underlying
Exelon Corporation

Exelon is a utility services holding company engaged in the generation, delivery and marketing of energy through Exelon Generation Company, LLC and the energy distribution and transmission businesses through Commonwealth Edison Company, PECO Energy Company, Baltimore Gas and Electric Company, Potomac Electric Power Company, Delmarva Power & Light Company and Atlantic City Electric Company. Through its business services subsidiary Exelon Business Services Company, LLC, the company provides its subsidiaries with a variety of support services.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Travis Miller

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