Exelon Corporation (NASDAQ:EXC) Q2 2024 Earnings Conference Call August 1, 2024 10:00 AM ET

Company Participants

Andrew Plenge – Vice President-Investor Relations
Calvin Butler – President and Chief Executive Officer
Jeanne Jones – Chief Financial Officer
Gil Quiniones – President and Chief Executive Officer-ComEd
Tyler Anthony – President and Chief Executive Officer-Pepco Holdings
Dave Velazquez – President and Chief Executive Officer-PECO
Colette Honorable – Executive Vice President-Public Policy and Chief External Affairs Officer

Conference Call Participants

Shar Pourreza – Guggenheim Partners
David Arcaro – Morgan Stanley
Steve Fleishman – Wolfe
Paul A. Zimbardo – Jefferies
Anthony Crowdell – Mizuho

Operator

Hello, and welcome to Exelon's Second Quarter Earnings Call. My name is Gigi, and I'll be your event specialist today. All lines have been placed on mute to prevent any background noise. Please note that today's webcast is being recorded. During the presentation, we will have a question-and-answer session. [Operator Instructions]

It is now my pleasure to turn today's program over to Andrew Plenge, Vice President of Investor Relations. The floor is yours.

Andrew Plenge

Thank you, Gigi. Good morning, everyone. We're pleased to have you with us for our 2024 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's 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 is now my pleasure to turn the call over to Calvin Butler, Exelon's President and CEO.

Calvin Butler

Thank you, Andrew, and good morning, everyone. We appreciate you joining us for the call and are pleased to be reporting a solid second quarter earnings and operational performance, keeping us on track to deliver consistent and stable performance once again. We expect to deliver within our guidance range of $2.40 to $2.50 with the goal of being at the midpoint or better, and we are reaffirming all of our long-term guidance. That includes investing $34.5 billion to grow rate base at 7.5%, resulting in annualized earnings growth of 5% to 7%.