Constellation Energy Q1 adjusted EPS beat estimates on calpine acquisition

Constellation Energy

11/05/2026 12:15

Overview

US power producer's Q1 adjusted EPS beat analyst expectations

Quarterly results driven by Calpine addition, stock-based comp, and market conditions

Outlook

Constellation affirms full-year 2026 adjusted operating earnings guidance of $11.00-$12.00 per share

Company expects strong, visible cash flow to support its capital allocation framework

Result Drivers

CALPINE ACQUISITION - Addition of Calpine contributed to higher adjusted operating earnings in Q1

MARKET CONDITIONS - Favorable stock-based compensation, nuclear PTC portfolio and market supported Q1 adjusted operating earnings

NUCLEAR OUTAGES - Unfavorable nuclear outages partially offset gains in Q1 adjusted operating earnings

Company press release: ID:nBw66CrxRa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Adjusted EPS
Beat
$2.74
$2.57 (12 Analysts)
Q1 Net Income
$1.60 bln
Q1 Adjusted Operating Income
$972 mln
Q1 Pretax Profit
$2.13 bln
Q1 Operating Expenses
$8.8 bln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 19 "strong buy" or "buy", 3 "hold" and 1 "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 $362.23, about 19.3% above its May 8 closing price of $303.63

The stock recently traded at 25 times the next 12-month earnings vs. a P/E of 25 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)