Constellation Energy Q3 adjusted EPS beats estimates on Calpine acquisition impact
CEG•CEG•CEG•CEG•Constellation Energy reported Q3 adjusted EPS of $5.06, beating the $3.85 estimate, and raised its full-year adjusted EPS guidance midpoint. It also agreed to acquire Rhode Island State Energy Center.
Constellation Energy reported Q3 revenue of $9.55 billion, adjusted EPS of $5.06 versus the $3.85 analyst estimate, and GAAP net income of $1.84 billion. Adjusted operating income was $1.79 billion, below the $2.16 billion estimate.
The company raised the midpoint and narrowed its 2026 adjusted operating EPS guidance to $12.50-$12.80. It said Q3 adjusted operating earnings primarily reflected favorable market and portfolio conditions and the addition of Calpine, partly offset by unfavorable interest and nuclear PTC portfolio. Its nuclear plants recorded a 97.2% capacity factor, up from 96.8% a year earlier.
Constellation agreed to acquire Rhode Island State Energy Center. It said new long-term agreements would add more than 1,000 megawatts of emissions-free generation to the grid.
