Calpine Integration and PJM Surge Set $2.2B Revenue Floor for Constellation Energy
Analysts raised Constellation Energy’s 2026 EPS estimate to $9.34 (up 0.7%) and 2027 EPS to $11.35 (up 0.7%), maintaining a hold rating. Its Calpine integration and a PJM capacity price surge establish a $2.2 billion annual revenue floor and enable nuclear-powered data center colocation.
1. Earnings Estimate Revisions and Hold Rating
Analysts raised Constellation Energy’s consensus EPS to $9.34 for 2026 (up 0.7% in 30 days) and to $11.35 for 2027 (up 0.7%), resulting in a hold rating. In the last quarter, the company reported $6.57 billion in revenue (up 0.3% year-over-year) and $3.04 in EPS (up 10.9%), topping revenue forecasts by 4.6% but missing EPS forecasts by 2.9%.
2. Calpine Integration and AI Infrastructure Pivot
The integration of Calpine assets combined with a surge in PJM capacity prices secures a $2.2 billion annual revenue floor. Regulatory approval for nuclear-powered data center colocation now positions Constellation Energy to sign long-term contracts with major technology firms and extend the operating life of its nuclear plants.