Constellation Energy gains after raising annual profit forecast, Q2 beat
CEG•Asset sale announced
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.
Including the session's decline, CEG was down about 23% year to date.
Shares rise after forecast increase and earnings beat
Shares of U.S. power company Constellation Energy CEG.O were up about 3% at $272.11.
The company raised its full-year adjusted profit forecast 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.
