CLAIM #23405 · EXC (EXC) · 2024Q2 earnings call · Aug 1, 2024 · due Dec 31, 2027
“There has been no change in our guidance to issue $1.6 billion of equity from 2024 to 2027 to fund our estimated $34.5 billion capital plan in a balanced manner.”
Jeanne Jones · CFO
How to check this claim
Look at: Cumulative equity issuance from 2024 through 2027, as disclosed by the company
It came true if: Cumulative equity issued 2024-2027 between $1.4 billion and $1.8 billion (approximating the $1.6 billion guided figure)
Where: Company financing/capital plan disclosures (10-K financing activities note, investor presentations, or earnings call commentary)
In context
“r 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 on average over the plan, likely putting us in the higher end of our targeted 100 to 200 basis points of cushion. From a financing perspective, we successfully raised $1.6 billion for ComEd and BGE in the second quarter, now having completed 90% of our planned long-term debt financing needs for the year. The activity to-date, along with our pre-issuance hedging program, positions us well for the balance of the year and beyond. We continue to see strong investor demand for our debt relative to the sector, which is proof of the strength of our balance sheet and our value proposition as the premier T&D utility with low-risk attributes. There has been no change in our guidance to issue $1.6 billion of equity from 2024 to 2027 to fund our estimated $34.5 billion capital plan in a balanced manner. We continue to expect to issue approximately $150 million this year, and the balance rapidly over 2025 to 2027, approximating $475 million annually. We will update you as we make progress on that plan. Thank you. I’ll now turn the call back to Calvin for his closing remarks. Calvin Butler: Thank you, Jeanne. I’ll conclude by bringing it back to our priorities this year listed on Slide 10. As always, safely achieving industry-leading operational excellence is our first priority. Keeping customers online, no matter the weather is increasingly important. We also remain highly focused on being responsive to our customers’ increasing engagement with the grid, whether it’s accommodating new solar performing efficiency audits are supporting their transition to electric vehicles, reaching fair an”
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SEC filings for EXC ↗ · Claim quote is verbatim from the 2024Q2 earnings call.