CLAIM #23421 · EXC (EXC) · 2024Q3 earnings call · Oct 30, 2024 · due Dec 31, 2027
“There has been no change in our guidance to issue a total of $1.6 billion of equity from 2024 to 2027 to fund our current $34.5 billion capital plan with the remaining balance expected to be issued ratably from 2025 to 2027, approximating $475 million on an annual basis.”
Jeanne Jones · CFO
How to check this claim
Look at: Cumulative equity issuance, 2024-2027 (company-disclosed, e.g., ATM and other equity programs)
It came true if: Cumulative equity issued 2024-2027 between $1.4 billion and $1.8 billion (approximating $1.6 billion total, ~$475 million annually in 2025-2027)
Where: Company financing activity disclosures (10-K financing section / equity issuance updates on quarterly earnings calls)
In context
“on average over the plan, putting us at the higher end of our targeted 100 to 200 basis points of cushion over the planning period. From a financing perspective, we have successfully completed all of our planned long-term debt financing needs for the year with PECO raising $575 million in the third quarter. The strong investor demand we continue to see for our debt offerings is supported by the strength of our balance sheet, combined the lowest attributes of our platform. Investor confidence in our offerings, along with our pre-issuance hedging program positions us well as we continue to seek out the most efficient ways to finance the energy transformation for our customers and investors. We’ve also successfully completed our planned $150 million of equity issuances for 2024 via our ATM. There has been no change in our guidance to issue a total of $1.6 billion of equity from 2024 to 2027 to fund our current $34.5 billion capital plan with the remaining balance expected to be issued ratably from 2025 to 2027, approximating $475 million on an annual basis. Thank you. And I’ll now turn the call back to Calvin for his closing remarks. Calvin Butler: Thank you, Jeanne. As you can see, we’ve come a long way toward delivering on our priorities and commitments for 2024 with the team highly focused on continued execution and operational excellence as we approach the final months of the year. We have maintained top quartile performance despite a tremendous amount of storm activity this year. The bar keeps getting set higher and we keep meeting it. We are approaching final orders for ComEd and PECO with path towards reasonable supportive outcomes in both covering approximately 50% of our rate base with another approximately 40% covered by known or established ratemaking processes as far out as 2027. And we appreciate Maryland acting quickly to addre”
Verify independently
SEC filings for EXC ↗ · Claim quote is verbatim from the 2024Q3 earnings call.