By Rob Curran

Exelon's first-quarter net income rose slightly as higher interest expenses offset brisk revenue growth and the utility giant boosted its projection for capital spending while backing its 2026 adjusted earnings target.

The Chicago-based utility operator posted earnings of $919 million, or 90 cents a share, compared with $908 million, or 90 cents a share, a year earlier.

Stripping out certain one-time items, Exelon logged adjusted earnings of 91 cents a share, topping the average analyst estimate of 88 cents a share, as per FactSet.

Operating revenue rose 7.9% to $7.24 billion, well above the Wall Street target of $6.93 billion.

For 2026, Exelon continues to anticipate adjusted earnings in a range between $2.81 and $2.91 a share.

The company -- whose utility holdings include ComEd in Illinois and PECO in Pennsylvania -- forecast $41.7 billion of capital expenditure in the next four years, up from a $41.3 billion estimate in February. That will lead to rate-base growth of 7.9% through 2029, Exelon said.

Exelon continues to anticipate compound annual earnings growth through 2029 at the top end of its 5%-to-7% long-term forecast.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

May 06, 2026 07:16 ET (11:16 GMT)

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