Exelon Corp

Company facts

Industry

Electric & Other Services Combined

Headquarters

Chicago, Illinois

Most recent report

8-K, filed Aug 25, 2026

Incorporated

Pennsylvania

Filings on record

1,000+ filings

On EDGAR

CIK 1109357

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Jun 2026 10-Q

SECSift found 2 of 10 sections worth reading, with 1 positive, 7 notable, and 8 negative flags.

• Financial Statements (Item 1)

  Financial statements with key numbers and regulatory updates.
  Positive

  • Maryland Supreme Court affirmed sales tax exemption; Exelon could record $160 million in refunds plus interest.
  Notable

  • ComEd's 2025 revenue balancing reconciliation approved with $128 million reduction effective January 2027.
  • $1 billion Convertible Senior Notes issued December 2025 remain unconverted; if-converted method excluded from diluted EPS.
  • Exelon issued $382 million of common stock in Q2 2026 settled forward sales under ATM program ($1B remaining).
  Negative

  • Pepco Maryland order disallowed asset recovery, causing $26 million write-off of regulatory assets and PP&E.
  • Maryland enacted a moratorium on rate cases with forecasted test years until April 1, 2027; new RTO membership bill filed.
  • FERC order on PJM cost allocation removes de minimis threshold; impact could be material but not yet estimable.
  • BGE's credit loss provision for six months jumped to $88 million from $26 million on higher receivables.

• Management's Discussion (Item 2)

  Full MD&A with segment results, ATM equity raise, credit downgrades, and legislative changes.
  Notable

  • Q2 2026 net income flat at $396M ($0.39), ComEd up $21M, PHI down $34M, PECO down $17M.
  • Issued 8.7M shares at weighted-average $44.03 for $382M net in Q2 2026; $1.0B still available under ATM.
  • Exelon announced plan to identify ~$350M in opex savings at Exelon and utilities in 2027.
  • Potential $0.8-$1.2B reduction in regulatory liability and rate base for utilities (ex-PECO) pending IRS PLR.
  Negative

  • Maryland law halts forecasted test-year rate cases until April 2027; BGE, Pepco, DPL must join RTO.
  • Delaware law caps DPL non-mandatory capital spend at $70M in 2026-27, then 5% of rate base from 2028.
  • S&P downgraded BGE long-term to 'A-' from 'A' and commercial paper to 'A-2' in April 2026.
  • Moody's downgraded PECO long-term to 'A3' from 'A2' and senior secured to 'A1' in July 2026.

What changed: Jun 2026 vs. Mar 2026

About 9% of EXC's Jun 2026 10-Q is new information. 93 paragraphs were added, 314 changed, and 49 removed. Below are the most important lines SECSift identified.

• Item 1 132
• Item 2 117
• Item 6 7
• Item 4 3
• Item 5 2
• Item 3 1
• Item 1A 1