Exelon Corporation (EXC) Q2 2023 Earnings Call Transcript

For the period ending June 30, 2023

August 2, 2023 10:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Hello and welcome to Exelon’s Second Quarter Earnings Call. My name is Gigi and I’ll be your event specialist today. [Operator Instructions] It is now my pleasure to turn today’s program over to Andy Plenge, Vice President of Investor Relations. The floor is yours.

Andy Plenge

Thank you, Gigi and good morning everyone. We are pleased to have you with us for our 2023 second 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 would 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’s now my pleasure to turn the call over to Calvin Butler, Exelon’s President and CEO.

Calvin Butler

Thank you, Andy. Good morning, everyone and thank you for joining us for our second quarter earnings call. We continue delivering on our plan as expected, which is a testament of all of the work put in by our dedicated employees.

But before we get into our results and business updates, I’d like to first start by acknowledging a key milestone. In July, ComEd reached the end of the 3-year term of the deferred prosecution agreement with the Department of Justice. At the court status hearing, the government moved to dismiss the charge, noting the company fully complied with the DPA, which the court granted in the hearing. We remain committed at all levels of the company to the highest standards of integrity and ethical behavior and we look forward to building on the trust of our customers as we continue to move forward.