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Why Is Constellation Energy Corporation (CEG) Down 6.9% Since Last Earnings Report?
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It has been about a month since the last earnings report for Constellation Energy Corporation (CEG - Free Report) . Shares have lost about 6.9% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Constellation Energy Corporation due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important drivers.
Constellation Energy Q4 Earnings Surpass Estimates, Revenues Rise Y/Y
Constellation Energy Corporation reported fourth-quarter 2025 earnings of $2.30 per share, which surpassed the Zacks Consensus Estimate of $3.13 by 4.54%. However, the bottom line decreased 5.7% from the year-ago quarter’s figure of $2.44.
CEG’s Total Revenues
Revenues totaled $6.07 billion, which beat the Zacks Consensus Estimate of $5.48 billion by 10.7%. The top line also increased 12.8% from the year-ago figure of $5.38 billion.
Highlights of CEG’s Q4 Release
Total operating expenses were $5.48 billion, up 22.3% from $5.1 billion in the year-ago period.
Net interest expenses increased 8.8% to $113 million from $90 million in the year-ago period.
Constellation Energy’s owned output from the Salem and South Texas Project Generating Stations produced 45,459 gigawatt-hours (GWhs) in the fourth quarter of 2025 compared with 45,494 GWhs in the fourth quarter of 2024.
Renewable energy capture for the company’s wind, solar and run-of-river hydro fleet was 99.4% compared with 93.2% in the fourth quarter of 2024.
The Nuclear Regulatory Commission (NRC) has approved a 20-year initial license renewal for its Clinton Clean Energy Center and a 20-year subsequent license renewal for our Dresden Clean Energy Center, following a rigorous review of maintenance activities, plant equipment and safety systems at the two Illinois facilities. The approvals will allow the company to produce more clean energy over the long-term.
Development post Q4
On Jan. 7, 2026, Constellation Energy completed the acquisition of Calpine Corporation, creating the nation’s largest electricity producer. The combined company will deliver reliable, cleaner power by pairing our zero-emission nuclear fleet with Calpine’s leading natural gas and geothermal assets, supporting data centers, advanced manufacturing and critical infrastructure in the AI-driven economy.
CEG’s Financial Position
As of Dec. 31, 2025, Constellation Energy had cash and cash equivalents of $3.64 billion compared with $3.02 billion as of Dec. 31, 2024.
The company had a long-term debt of $7.25 billion as of Dec. 31, 2025, compared with $7.38 billion as of Dec. 31, 2024.
Cash provided in operating activities in 2025 amounted to $4.23 billion against $2.46 billion cash used in 2024.
Total capital expenditures in 2025 were $2.95 billion compared with $2.56 billion in 2024.
How Have Estimates Been Moving Since Then?
It turns out, estimates review have trended upward during the past month.
The consensus estimate has shifted 19.95% due to these changes.
VGM Scores
Currently, Constellation Energy Corporation has a subpar Growth Score of D, however its Momentum Score is doing a bit better with a C. Following the exact same course, the stock was allocated a score of C on the value side, putting it in the middle 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Constellation Energy Corporation has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Constellation Energy Corporation is part of the Zacks Alternative Energy - Other industry. Over the past month, TC Energy (TRP - Free Report) , a stock from the same industry, has gained 1.3%. The company reported its results for the quarter ended December 2025 more than a month ago.
TC Energy reported revenues of $2.99 billion in the last reported quarter, representing a year-over-year change of +16.9%. EPS of $0.70 for the same period compares with $0.75 a year ago.
TC Energy is expected to post earnings of $0.75 per share for the current quarter, representing a year-over-year change of +13.6%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged.
TC Energy has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of D.
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Why Is Constellation Energy Corporation (CEG) Down 6.9% Since Last Earnings Report?
It has been about a month since the last earnings report for Constellation Energy Corporation (CEG - Free Report) . Shares have lost about 6.9% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Constellation Energy Corporation due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its latest earnings report in order to get a better handle on the important drivers.
Constellation Energy Q4 Earnings Surpass Estimates, Revenues Rise Y/Y
Constellation Energy Corporation reported fourth-quarter 2025 earnings of $2.30 per share, which surpassed the Zacks Consensus Estimate of $3.13 by 4.54%. However, the bottom line decreased 5.7% from the year-ago quarter’s figure of $2.44.
CEG’s Total Revenues
Revenues totaled $6.07 billion, which beat the Zacks Consensus Estimate of $5.48 billion by 10.7%. The top line also increased 12.8% from the year-ago figure of $5.38 billion.
Highlights of CEG’s Q4 Release
Total operating expenses were $5.48 billion, up 22.3% from $5.1 billion in the year-ago period.
Net interest expenses increased 8.8% to $113 million from $90 million in the year-ago period.
Constellation Energy’s owned output from the Salem and South Texas Project Generating Stations produced 45,459 gigawatt-hours (GWhs) in the fourth quarter of 2025 compared with 45,494 GWhs in the fourth quarter of 2024.
Renewable energy capture for the company’s wind, solar and run-of-river hydro fleet was 99.4% compared with 93.2% in the fourth quarter of 2024.
The Nuclear Regulatory Commission (NRC) has approved a 20-year initial license renewal for its Clinton Clean Energy Center and a 20-year subsequent license renewal for our Dresden Clean Energy Center, following a rigorous review of maintenance activities, plant equipment and safety systems at the two Illinois facilities. The approvals will allow the company to produce more clean energy over the long-term.
Development post Q4
On Jan. 7, 2026, Constellation Energy completed the acquisition of Calpine Corporation, creating the nation’s largest electricity producer. The combined company will deliver reliable, cleaner power by pairing our zero-emission nuclear fleet with Calpine’s leading natural gas and geothermal assets, supporting data centers, advanced manufacturing and critical infrastructure in the AI-driven economy.
CEG’s Financial Position
As of Dec. 31, 2025, Constellation Energy had cash and cash equivalents of $3.64 billion compared with $3.02 billion as of Dec. 31, 2024.
The company had a long-term debt of $7.25 billion as of Dec. 31, 2025, compared with $7.38 billion as of Dec. 31, 2024.
Cash provided in operating activities in 2025 amounted to $4.23 billion against $2.46 billion cash used in 2024.
Total capital expenditures in 2025 were $2.95 billion compared with $2.56 billion in 2024.
How Have Estimates Been Moving Since Then?
It turns out, estimates review have trended upward during the past month.
The consensus estimate has shifted 19.95% due to these changes.
VGM Scores
Currently, Constellation Energy Corporation has a subpar Growth Score of D, however its Momentum Score is doing a bit better with a C. Following the exact same course, the stock was allocated a score of C on the value side, putting it in the middle 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of D. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending upward for the stock, and the magnitude of these revisions looks promising. Notably, Constellation Energy Corporation has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Constellation Energy Corporation is part of the Zacks Alternative Energy - Other industry. Over the past month, TC Energy (TRP - Free Report) , a stock from the same industry, has gained 1.3%. The company reported its results for the quarter ended December 2025 more than a month ago.
TC Energy reported revenues of $2.99 billion in the last reported quarter, representing a year-over-year change of +16.9%. EPS of $0.70 for the same period compares with $0.75 a year ago.
TC Energy is expected to post earnings of $0.75 per share for the current quarter, representing a year-over-year change of +13.6%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged.
TC Energy has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of D.