Exelon Corporation (EXC) Q3 2022 Earnings Call Transcript

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day and thank you for standing by. Welcome to the Q3 2022 Exelon Corporation Earnings Conference Call. At this time all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. Please be advised that today’s conference is being recorded.

And I would now like to hand the conference over to your speaker today, Mr. Andy Plenge - Vice President of Investor Relations. Sir, please go ahead.

Andy Plenge – VP of IR

Thank you, Chris. Good morning everyone and thank you for joining our third quarter 2022 earnings conference call. Leading the call today are Chris Crane, Exelon’s Chief Executive Officer; and Jeanne Jones, Exelon’s Chief Financial Officer. They’re joined by Calvin Butler, Exelon’s President and Chief Operating Officer, who will join Chris, Jeanne and other members of Exelon’s senior management team to answer your questions following prepared remarks. We issued our earnings release this morning along with the presentation, all of which can be found in the Investor Relations section of Exelon’s website.

The earnings release and other matters, which we discuss during today’s call, contain forward-looking statements and estimates that are subject to various risks and uncertainties. Actual results could differ from our forward-looking statements based on factors and assumptions discussed in today’s material and comments made during this call. Please refer to today’s 8-K and Exelon’s other SEC filings for discussions of risk factors and other factors that may cause results to differ from management’s projections, forecasts and expectations. Today’s presentation also includes references to adjusted operating earnings and other non-GAAP measures. Please refer to the information contained in the appendix of our presentation and our earnings release for reconciliations between the non-GAAP measures and the nearest equivalent GAAP measures. We’ve scheduled 60 minutes for today’s call.

I’ll now turn the call over to Chris Crane, Exelon’s CEO.

Chris Crane – CEO

Thanks, Andy, and good morning to everybody. We’re glad to have you with us this morning. As you know – as you all know, yesterday, we announced my retirement from Exelon at the end of the year due to some health reasons. I plan on addressing that at the end of the call after reviewing the operational and financial update of the quarter. Let me turn through, first, though, to the operating aspects of that announcement. Calvin Butler, our President and Chief Operating Officer become the President and CEO and a member of the Exelon Board on my retirement. Since Calvin began with us to comment, he has been a key part the development of our industry-leading platform. During his time at BGE, he made customer satisfaction best-in-class, significantly increase the leadership diversity and became CEO of Exelon Utilities after that. In that role, he continue to push the operating companies to align with the management model and drive industry-leading operational excellence.