CLAIM #23361 · EXC (EXC) · 2023Q4 earnings call · Feb 21, 2024 · due Dec 31, 2027
“And as mentioned, to fund the robust $3.2 billion of incremental capital opportunities while maintaining a strong balance sheet, our financing plan includes $1.3 billion of additional equity that we expect to issue over the 2025 through 2027 period.”
Jeanne Jones · CFO
How to check this claim
Look at: Cumulative additional equity issued by Exelon, 2025 through 2027
It came true if: Cumulative equity issuance over 2025-2027 between $1.1 billion and $1.5 billion
Where: Company disclosures on equity issuance (10-K financing activities / cash flow statement, or investor presentations/earnings calls)
In context
“it metrics over time. Additionally, I'd remind you that our plan continues to incorporate the assumption that the corporate alternative minimum tax will not allow for repairs. If implemented in a way that mitigates the cash impact, we'd expect an increase of approximately 50 basis points to our consolidated credit metrics average on average over the plan, which would provide incremental cushion. From a financing perspective, we expect the $34.5 billion capital plan to be supported by $19 billion of internally generated cash flow. $10 billion of debt at the utilities and $3 billion of debt at the holding company with the balance funded with a modest amount of equity. In the fourth quarter of 2023, we completed $142 million of equity via our ATM and expect $150 million to be issued in 2024. And as mentioned, to fund the robust $3.2 billion of incremental capital opportunities while maintaining a strong balance sheet, our financing plan includes $1.3 billion of additional equity that we expect to issue over the 2025 through 2027 period. The incremental equity funds 40% of the incremental capital investments over the four-year plan and represent slightly more than 1% per year of Exelon current market cap. As we work with our jurisdictions and identify needs for further investment of utilities, we anticipate that any incremental capital investment will be funded by no more than approximately 40% equity. I want to close by reiterating our confidence in investing an estimated $35 billion of capital across our diversified platform from 2024 to 2027, driving 5% to 7% earnings growth from 2023 to 2027 with an expectation of midpoint or better and maintaining a strong balance sheet while doing so. Thank you. I'll now turn the call back to Calvin for his closing remarks. Calvin Butler: Thank you, Jeanne. I'd like to conclude with”
Verify independently
SEC filings for EXC ↗ · Claim quote is verbatim from the 2023Q4 earnings call.