Constellation Energy gains after raising annual profit forecast, Q2 beat - CEG News | RalliesConstellation Energy gains after raising annual profit forecast, Q2 beat
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CEG• Shares rise after guidance increase and earnings beat
- Shares of U.S. power company Constellation Energy CEG.O were up 3.4% at $274 in premarket trading.
- The company raised its full-year adjusted profit guidance range to $11.50–$12.50 per share, from its prior view of $11–$12 per share.
- Constellation posted second-quarter adjusted profit of $2.55 per share, above analysts' estimate of $2.28 per share, according to LSEG data.
- The company said it has agreed with LS Power to divest the Brazos Valley Energy Center, a 606 MW natural gas-fired plant in ERCOT, for $860 million.
- The transaction is expected to close by the end of this year.
- As of the last close, CEG was down 24.9% year to date.
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