Exelon Corp

EXC: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$71.00	Nvdwrgy	Pqrjwrd

Exelon Reports Strong Full-Year Earnings, Extends 6%-8% Growth Outlook

Andrew Bischof

Feb 14, 2023

We are reaffirming our $41 per share fair value after Exelon reported 2022 full-year adjusted earnings per share of $2.27 up from $1.83 in 2021. Earnings in 2021 included the now-divested Constellation business. Management initiated 2023 full-year earnings guidance of $2.30 to $2.42 per share, which we view as achievable.

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