Constellation Energy Corporation (CEG)
NASDAQ:CEG
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Earnings Data
Report Date
Jul 30, 2026TBA (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
2.46Last Year’s EPS
1.91Same Quarter Last Year
Strong Buy
Based on 15 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
Overall the call conveyed a positive outlook driven by strong operational performance, affirmed guidance, substantial free cash flow growth, successful integration and accretion from the Calpine acquisition, executed share repurchases, and recent project deliveries. Offsetting items include regulatory uncertainty in PJM (causing some customer pauses), weather-related incremental costs, timing for some uprates and capacity credits, and near-term market price softness in regions like ERCOT. Management emphasized material optionality to drive upside and a path to unlock demand once regulatory clarity is established.Company Guidance
Strong Quarterly Earnings
Q1 GAAP EPS of $4.49 and adjusted operating earnings of $2.74 per share, which is $0.60 per share higher than Q1 last year; company affirmed full-year adjusted operating earnings guidance of $11.00–$12.00 per share.
Robust Free Cash Flow Outlook
Free cash flow before growth forecast of $8.4 billion for 2026–2027 and $11.5–$13.0 billion for 2028–2029 (management cites ~45% increase using the midpoint versus 2026–2027), providing significant capital deployment optionality.
Calpine Accretion and Scale Benefits
Calpine expected to contribute ~ $2.00 per share of EPS accretion on a full‑year basis; combined retail scale now serves ~275 million MWh of electricity and ~800 Bcf of gas annually across 40 states, with >80% of Fortune 100 as customers.
Disciplined Capital Allocation and Buybacks
Repurchased ~1.2 million shares at an average price of ~$285 per share for ~$335 million; $5 billion buyback authorization in place; framework includes maintaining investment-grade metrics, >10% unlevered return targets on growth investments, and growing the dividend ~10% per year.
Project Delivery and Development Execution
Placed the 105 MW Pastoria solar project into service and commenced commercial operations at the 460 MW Pin Oak Creek natural gas peaking facility; PUCT approval received for Freestone powered‑land net metering with substation energization expected in Q4.
Strong Nuclear and Fleet Operational Performance
Operated nuclear plants produced 40 million MWh with a capacity factor of 92.3% in Q1; combined cycle and cogeneration generated 23 million MWh with a 47.1% capacity factor and a thermal forced outage factor of 5.1% (units delivered when called ~95% of the time).
Market Positioning for Data Center Demand and PJM Queue Activity
Management reported PJM moving toward a market‑based backstop with a timeline to seek FERC approval in June; company has submitted ~5,000 MW of new capacity (nuclear uprates, gas, battery storage) into the PJM interconnection queue; noted projected data center spending for 2026 is nearly 75% higher than last year.
Sustainability Recognition
Named Barron's 2026 Most Sustainable U.S. Company (ranked #1 among the 1,000 largest publicly traded U.S. companies), validating ESG and stakeholder practices.
CEG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
CEG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 11, 2026 | $303.16 | $299.23 | -1.30% |
Feb 24, 2026 | $292.95 | $311.74 | +6.41% |
Nov 07, 2025 | $349.88 | $356.95 | +2.02% |
Aug 07, 2025 | $336.69 | $334.65 | -0.61% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Constellation Energy Corporation (CEG) report earnings?
Constellation Energy Corporation (CEG) is schdueled to report earning on Jul 30, 2026, TBA (Confirmed).
What is Constellation Energy Corporation (CEG) earnings time?
Constellation Energy Corporation (CEG) earnings time is at Jul 30, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is CEG EPS forecast?
CEG EPS forecast for the fiscal quarter 2026 (Q2) is 2.46.