Business

Exelon posts $1.96 billion profit for the year

Posted February 24, 2021 10:00 pm

CHICAGO - Exelon Corp., the parent company of ComEd, this week reported fiscal year 2020 profit of $1.96 billion, or $2.01 per share. Annual revenue was reported as $33.04 billion.

The Chicago-based utility company also reported fourth-quarter profit of $360 million, or 37 cents per share. Earnings for the quarter, adjusted for nonrecurring costs, were 76 cents per share. Exelon posted revenue of $8.12 billion in the quarter.

The company's fourth quarter earnings results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.

Exelon said it expects full-year earnings this year in the range of $2.60 to $3 per share.

Exelon serves approximately 10 million customers in Illinois, Delaware, the District of Columbia, Maryland, New Jersey and Pennsylvania.

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