earnings
confidence high
sentiment positive
materiality 0.80
Constellation Q1 adjusted EPS $2.74 beats prior year $2.14; affirms FY guidance $11-$12
CONSTELLATION ENERGY GENERATION LLC
- GAAP Net Income $1,590M ($4.49 per share) vs $118M ($0.38) a year ago; Adjusted Operating Earnings $972M ($2.74 per share) vs $673M ($2.14).
- Affirming full-year 2026 Adjusted Operating Earnings guidance of $11.00 - $12.00 per share.
- Calpine acquisition closed January 2026; integration costs of $119M after tax and amortization of acquired contracts of $154M.
- Pastoria Solar (105 MW) commissioned Apr 16; Pin Oak Creek (460 MW) commercial Apr 30; Freestone net metering for CyrusOne data center approved.
- Nuclear capacity factor 92.3% (ex-Salem/STP); gas/oil/hydro EFOF 4.5%; renewables capture 96.7%.