CHICAGO - Exelon Corp . (NASDAQ:EXC), a Fortune 200 utility company, has promoted Cynthia McCabe to Senior Vice President and Chief Communications Officer, effective November 1, 2024. McCabe, who has been with the company since 2017, will now lead communications and marketing functions across Exelon and its six local energy companies.
In her new role, McCabe will be responsible for external and employee communications, reputation initiatives, branding, advertising, and social media. She will also join the Executive Committee of Exelon. Calvin Butler, President and CEO of Exelon, highlighted McCabe's extensive communications experience and leadership in culture change initiatives as key factors in her appointment during a significant time of growth and change in the energy industry.
McCabe's career at Exelon began as the director of Communications for Exelon operating company Pepco Holdings, followed by positions as director of Content and Creative Communications for Exelon and director of Communications for Exelon Utilities. She assumed the chief of staff role in 2021 and was named vice president of Executive Operations in 2023.
Prior to joining Exelon, McCabe served in communications roles at the American Federation of State, County and Municipal Employees (AFSCME) and the National Education Association. Her career began in journalism, working as a reporter in North Carolina and Florida.
McCabe graduated with a bachelor's degree in English from Clemson University and is actively involved in the community, serving on the board of directors for the Reginald F. Lewis Museum of African American History and Culture in Baltimore and previously on the board of the Friends of the National Zoo in Washington, D.C.
Exelon serves over 10.6 million customers through its six regulated transmission and distribution utilities, which include Atlantic City Electric, Baltimore Gas and Electric, Commonwealth Edison, Delmarva Power & Light, PECO Energy Company, and Potomac Electric Power Company. The company is known for its commitment to reliable, affordable, and efficient energy delivery, as well as its contributions to workforce development, equity, economic development, and volunteerism.
This news article is based on a press release statement from Exelon Corp.
In other recent news, Exelon Corporation (NASDAQ:EXC) has been the subject of significant developments. The company recently reported second-quarter earnings per share (EPS) of $0.47, exceeding both BMO Capital's estimate of $0.38 and the consensus estimate of $0.40. This performance led BMO Capital Markets to raise its price target on Exelon's stock to $45.00 from the previous $43.00, maintaining an Outperform rating.
Exelon's management, during their recent earnings call, discussed various key topics including their protest with the Federal Energy Regulatory Commission, ongoing rate cases, and potential expansion in the data center sector. Despite concerns about potential rate pressure stemming from the 2025/26 Base Residual Auction, BMO Capital expressed confidence in Exelon's ability to maintain stable credit metrics going forward.
Moreover, the company reaffirmed its guidance range of $2.40 to $2.50 per share and a long-term annualized earnings growth of 5% to 7% through 2027. A significant investment of $34.5 billion is planned to grow the rate base at 7.5%. Exelon is also actively supporting infrastructure projects, such as a data center in Illinois and a mixed-use community in Baltimore. These are the recent developments in Exelon Corporation.
InvestingPro Insights
As Exelon Corp. (NASDAQ:EXC) prepares for Cynthia McCabe's leadership in communications, it's worth noting some key financial insights that align with the company's strategic positioning. According to InvestingPro data, Exelon boasts a market capitalization of $40.84 billion, reflecting its significant presence in the utility sector. The company's revenue growth of 14.37% over the last twelve months as of Q2 2024 indicates a robust financial performance, which could provide a solid foundation for McCabe's communications initiatives.
InvestingPro Tips reveal that Exelon has maintained dividend payments for an impressive 54 consecutive years, underscoring its commitment to shareholder value. This consistency in dividend payments could be a key point for McCabe to emphasize in her communications strategy, especially when addressing investors and stakeholders. Additionally, the company is trading near its 52-week high, which suggests positive market sentiment that McCabe can leverage in her messaging.
It's also noteworthy that Exelon operates with a P/E ratio of 16.88, which is relatively high compared to its near-term earnings growth. This valuation metric could be an area for McCabe to address in her communications, potentially highlighting the company's long-term growth prospects and strategic initiatives in the evolving energy industry.
For investors seeking a deeper understanding of Exelon's financial health and market position, InvestingPro offers 7 additional tips that could provide valuable insights for decision-making.
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