Exelon (EXC) Up 0.5% Since Last Earnings Report: Can It Continue?

A month has gone by since the last earnings report for Exelon (EXC). Shares have added about 0.5% in that time frame, underperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Exelon due for a pullback? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent drivers for Exelon Corporation before we dive into how investors and analysts have reacted as of late.Exelon Q1 Earnings Beat Estimates, Sales Increase Y/Y, Capex Plan UpExelon Corporation’s first-quarter 2026 earnings of 91 cents per share surpassed the Zacks Consensus Estimate of 89 cents by 2.25%. The bottom line decreased 1.09% from the year-ago level of 92 cents. On a GAAP basis, earnings were 90 cents per share, remaining unchanged from the year-ago quarter.Total Revenues of ExelonExelon reported revenues of $7.24 billion, which surpassed the Zacks Consensus Estimate of $6.91 billion by 4.76%. The top line was 7.86% up from the year-ago quarter’s figure of $6.71 billion.Highlights of Exelon’s Q1 ReleaseIn the quarter reported, the number of customers served by the company increased 1.09% from the year-ago quarter. Total electric deliveries touched 21,084 gigawatt hours in the reported quarter and were down 1.08%, primarily due to lower volumes sold across all customer groups.Due to revenue decoupling, Exelon’s distribution earnings were unaffected by actual weather conditions or customer-usage patterns.Exelon's total operating expenses increased nearly 8.89% year over year to $5.63 billion. The rise was primarily driven by higher purchased-power and fuel costs, increased operation and maintenance expenses, and higher taxes other than income taxes.Operating income amounted to $1.61 billion, up 4.49% year over year.Interest expenses totaled $555 million, up nearly 8.82% from the year-ago quarter’s level.In the reported quarter, adjusted net income was $919 million, up 1.21% from $908 million in the year-ago quarter.Segmental Details of EXCCommonwealth Edison Company (ComEd): Adjusted earnings in the first quarter were $310 million, down 4.62% from the year-ago quarter. The year-over-year decrease was primarily due to distribution timing, partly offset by a rise in AFUDC and rate-base investments that improved reliability.PECO Energy Company (PECO): Adjusted operating earnings for the reported quarter increased 4.91% year over year to $278 million, primarily driven by the absence of customer surcharge credits, favorable weather and a decline in income taxes from tax repairs, partly offset by higher depreciation and interest expenses.Baltimore Gas and Electric Company (BGE): Adjusted earnings for the quarter increased 14.62% year over year to $298 million, driven by improved distribution rates, partially offset by higher credit loss expense.Pepco Holdings LLC (PHI): Adjusted operating earnings for the quarter decreased 7.22% year over year to $180 million due to adverse impacts from the Pepco Maryland multi-year plan reconciliation and higher depreciation expense. These negatives were partially offset by the implementation of new distribution and transmission rates.EXC’s Financial HighlightsAs of March 31, 2026, cash and cash equivalents totaled $713 million compared with $626 million as of Dec. 31, 2025.As of March 31, 2026, long-term debt was $47.86 billion compared with $47.41 billion as of Dec. 31, 2025.Cash provided by operating activities in the first quarter of 2026 totaled $1.72 billion compared with $1.2 billion in the year-ago period.Guidance of ExelonExelon expects earnings in the range of $2.81-$2.91 per share for 2026. The Zacks Consensus Estimate for the same is pinned at $2.85, which is near the midpoint of the company’s guided range. The company expects its adjusted (non-GAAP) operating EPS compounded annual growth near the top end of 5-7% through 2029.Exelon now plans to invest $41.7 billion in its energy infrastructure during 2026-2029, up from its previous guidance of $41.3 billion. The planned capital expenditure is expected to support 7.9% rate-base growth. How Have Estimates Been Moving Since Then?Investors have witnessed a upward trend in estimates revision over the past two months.VGM ScoresCurrently, Exelon has a average Growth Score of C, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a score of B on the value side, putting it in the top 40% for this investment strategy.Overall, the stock has an aggregate VGM Score of C. If you aren't focused on one strategy, this score is the one you should be interested in.Outlook Exelon has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.Performance of an Industry PlayerExelon is part of the Zacks Utility - Electric Power industry. Over the past month, PSEG (PEG), a stock from the same industry, has gained 0.3%. The company reported its results for the quarter ended March 2026 more than a month ago.PSEG reported revenues of $3.85 billion in the last reported quarter, representing a year-over-year change of +19.4%. EPS of $1.55 for the same period compares with $1.43 a year ago.For the current quarter, PSEG is expected to post earnings of $0.81 per share, indicating a change of +5.2% from the year-ago quarter. The Zacks Consensus Estimate has changed +0.6% over the last 30 days.PSEG has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of C.Radical New Technology Could Hand Investors Huge GainsQuantum Computing is the next technological revolution, and it could be even more advanced than AI.While some believed the technology was years away, it is already present and moving fast. 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