Constellation Energy Beats Q4 Revenue Estimates and Secures 380 MW CyrusOne Data-Center Deal
Constellation Energy reported Q4 FY25 revenue of $6.07 billion, beating the $5.30 billion consensus, and adjusted EPS of $2.30 topped estimates despite falling from $2.44 year-over-year. The company secured a 380 MW power contract with CyrusOne for a new Texas data center and raised its annual dividend by 10%.
1. Q4 Financial Highlights
Constellation Energy posted Q4 FY25 revenue of $6.07 billion, surpassing the $5.30 billion consensus, and reported adjusted EPS of $2.30, above the $2.23 estimate but down from $2.44 a year earlier. Operating income declined to $598 million from $972 million, weighed by weaker performance in its nuclear PTC portfolio.
2. Operational Performance
The company’s nuclear fleet produced 45,459 GWh with a 93.1% capacity rate excluding Salem and STP, logging 63 planned refueling days and 30 non-refueling outage days. Its gas and pumped storage fleet achieved a 99.4% dispatch match rate, while renewables captured 97.2% of available energy, both improving from last year.
3. Dividend Increase and Guidance
Constellation declared a quarterly dividend of $0.4265 per share, marking a 10% annual increase and announcing another 10% hike for 2026. Management cited strengthened financial flexibility after the Calpine acquisition and plans to detail its 2026 growth strategy on the March 31 earnings outlook call.
4. Texas Data Center Agreement
Calpine LLC, a Constellation unit, agreed to supply 380 MW of power, grid connectivity and site infrastructure to CyrusOne’s new Texas data center, with an exclusive option for an additional 380 MW phase. The multi-year deal extends Constellation’s portfolio in the hyperscale data-center market.