Constellation Energy beats Q2 adjusted EPS estimates, raises FY adj operating earnings guidance
Constellation Energy beats Q2 adjusted EPS estimates, raises FY adj operating earnings guidance
Overview
U.S. power producer's Q2 adjusted EPS rose and beat analyst expectations
Q2 adjusted operating income missed analyst consensus
Company raised full-year adjusted EPS guidance and agreed to divest Brazos Valley Energy Center
Outlook
Constellation raises full-year adj operating earnings guidance to $11.50-$12.50 per share
Company says it remains focused on integrating Calpine and capturing value from expanded fleet
Constellation expects strong balance sheet and generation portfolio to support growth commitments
Result Drivers
CALPINE ACQUISITION - Co said higher adjusted operating earnings were driven by the addition of Calpine and favorable market and portfolio conditions, partially offset by unfavorable nuclear outages
NUCLEAR OUTAGES - Increased planned refueling outage days led to lower nuclear output and capacity factor
Company press release: ID:nBw3ZzPWFa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Adjusted EPS | Beat | $2.55 | $2.28 (15 Analysts) |
Q2 Adjusted Operating Income | Miss | $920 mln | $1.33 bln (9 Analysts) |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 21 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the electric utilities peer group is "buy"
Wall Street's median 12-month price target for Constellation Energy Corp is $362.00, about 36.5% above its August 5 closing price of $265.12
The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 26 three months ago
Reuters Recommended Reads
Aug 4 - PSEG Q2 adjusted EPS beats estimates on increased nuclear generation
Aug 5 - Talen Energy reports Q2 net loss, misses analysts' EPS estimates
Aug 4 - NRG Energy misses quarterly profit estimates as interest costs rise
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)