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Constellation Energy Corporation (CEG) Down 14.3% Since Last Earnings Report: Can It Rebound?
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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 14.3% in that time frame, underperforming the S&P 500.
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 the latest earnings report in order to get a better handle on the important catalysts.
Constellation Energy's Q1 Earnings and Revenues Beat Estimates
Constellation Energy Corporation reported first-quarter 2026 earnings of $2.74 per share, which surpassed the Zacks Consensus Estimate of $2.56 by 7.03%. The earnings per share increased 28% from the year-ago quarter’s figure of $2.14.
CEG’s Total Revenues
Revenues totaled $11.12 billion, which beat the Zacks Consensus Estimate of $8.2 billion by 35.5%. The top line also increased 63.8% from the year-ago figure of $6.78 billion.
Highlights of CEG’s Q1 Release
Total operating expenses were $8.8 billion, up 38.9% from $6.33 billion in the year-ago period. The year-over-year increase in operating expenses was due to higher purchased power and fuel, and higher operating and maintenance expenses compared with the year-ago period.
Operating income for the reported quarter was $2.33 billion compared with $0.45 billion in the year-ago period.
Net interest expenses increased 73.3% to $253 million from $146 million in the year-ago period.
Constellation Energy’s owned output from the Salem and South Texas Project Generating Stations produced 44,666 gigawatt-hours (GWhs) in the first quarter of 2026, compared with 45,582 GWhs in the first quarter of 2025.
Excluding Salem and STP, CEG’s owned nuclear plants recorded a 92.3% capacity factor in the first quarter of 2026, compared with 94.1% in the year-ago quarter. Sites operated by CEG experienced 99 planned refueling outage days in the first quarter of 2026, compared with 88 days in the first quarter of 2025.
Development post Q1
On April 16, 2026, CEG marked the commissioning of the 105-MW Pastoria Solar Project, the largest renewable energy project contracted by the California Department of Water Resources thus far as part of its goal to fully decarbonize operations by 2035.
On April 30, 2026, CEG’s Pin Oak Creek Energy Center commenced commercial operations. The 460-MW, advanced natural gas facility is built to deliver reliable, dispatchable power to the ERCOT grid.
CEG’s Financial Position
As of March 31, 2026, Constellation Energy had cash and cash equivalents of $0.8 billion compared with $3.64 billion as of Dec. 31, 2025.
The company had a long-term debt of $16.99 billion as of March 31, 2026, compared with $7.25 billion as of Dec. 31, 2025.
Cash provided in operating activities in first-quarter 2026 amounted to $425 million compared with $107 million in first-quarter 2025.
Total capital expenditures in the first three months of 2026 were $1.27 billion compared with $0.8 billion in first-quarter 2025.
CEG’s Guidance
Constellation Energy reaffirmed its 2026 earnings per share estimate in the range of $11.00-$12.00 per share. The Zacks Consensus Estimate for 2026 earnings per share is currently pegged at $11.69, which is within the guided range.
CEG projects long-term earnings growth of more than 20% through 2029.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in estimates review.
VGM Scores
At this time, Constellation Energy Corporation has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with a D. Charting a somewhat similar path, the stock has 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 C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. 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, Clearway Energy (CWEN - Free Report) , a stock from the same industry, has gained 2.6%. The company reported its results for the quarter ended March 2026 more than a month ago.
Clearway Energy reported revenues of $354 million in the last reported quarter, representing a year-over-year change of +18.8%. EPS of -$1.35 for the same period compares with $0.03 a year ago.
For the current quarter, Clearway Energy is expected to post earnings of $0.36 per share, indicating a change of +28.6% from the year-ago quarter. The Zacks Consensus Estimate has changed -1.5% over the last 30 days.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Clearway Energy. Also, the stock has a VGM Score of F.
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Constellation Energy Corporation (CEG) Down 14.3% Since Last Earnings Report: Can It Rebound?
It has been about a month since the last earnings report for Constellation Energy Corporation (CEG - Free Report) . Shares have lost about 14.3% in that time frame, underperforming the S&P 500.
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 the latest earnings report in order to get a better handle on the important catalysts.
Constellation Energy's Q1 Earnings and Revenues Beat Estimates
Constellation Energy Corporation reported first-quarter 2026 earnings of $2.74 per share, which surpassed the Zacks Consensus Estimate of $2.56 by 7.03%. The earnings per share increased 28% from the year-ago quarter’s figure of $2.14.
CEG’s Total Revenues
Revenues totaled $11.12 billion, which beat the Zacks Consensus Estimate of $8.2 billion by 35.5%. The top line also increased 63.8% from the year-ago figure of $6.78 billion.
Highlights of CEG’s Q1 Release
Total operating expenses were $8.8 billion, up 38.9% from $6.33 billion in the year-ago period. The year-over-year increase in operating expenses was due to higher purchased power and fuel, and higher operating and maintenance expenses compared with the year-ago period.
Operating income for the reported quarter was $2.33 billion compared with $0.45 billion in the year-ago period.
Net interest expenses increased 73.3% to $253 million from $146 million in the year-ago period.
Constellation Energy’s owned output from the Salem and South Texas Project Generating Stations produced 44,666 gigawatt-hours (GWhs) in the first quarter of 2026, compared with 45,582 GWhs in the first quarter of 2025.
Excluding Salem and STP, CEG’s owned nuclear plants recorded a 92.3% capacity factor in the first quarter of 2026, compared with 94.1% in the year-ago quarter. Sites operated by CEG experienced 99 planned refueling outage days in the first quarter of 2026, compared with 88 days in the first quarter of 2025.
Development post Q1
On April 16, 2026, CEG marked the commissioning of the 105-MW Pastoria Solar Project, the largest renewable energy project contracted by the California Department of Water Resources thus far as part of its goal to fully decarbonize operations by 2035.
On April 30, 2026, CEG’s Pin Oak Creek Energy Center commenced commercial operations. The 460-MW, advanced natural gas facility is built to deliver reliable, dispatchable power to the ERCOT grid.
CEG’s Financial Position
As of March 31, 2026, Constellation Energy had cash and cash equivalents of $0.8 billion compared with $3.64 billion as of Dec. 31, 2025.
The company had a long-term debt of $16.99 billion as of March 31, 2026, compared with $7.25 billion as of Dec. 31, 2025.
Cash provided in operating activities in first-quarter 2026 amounted to $425 million compared with $107 million in first-quarter 2025.
Total capital expenditures in the first three months of 2026 were $1.27 billion compared with $0.8 billion in first-quarter 2025.
CEG’s Guidance
Constellation Energy reaffirmed its 2026 earnings per share estimate in the range of $11.00-$12.00 per share. The Zacks Consensus Estimate for 2026 earnings per share is currently pegged at $11.69, which is within the guided range.
CEG projects long-term earnings growth of more than 20% through 2029.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in estimates review.
VGM Scores
At this time, Constellation Energy Corporation has a nice Growth Score of B, though it is lagging a lot on the Momentum Score front with a D. Charting a somewhat similar path, the stock has 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 C. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. 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, Clearway Energy (CWEN - Free Report) , a stock from the same industry, has gained 2.6%. The company reported its results for the quarter ended March 2026 more than a month ago.
Clearway Energy reported revenues of $354 million in the last reported quarter, representing a year-over-year change of +18.8%. EPS of -$1.35 for the same period compares with $0.03 a year ago.
For the current quarter, Clearway Energy is expected to post earnings of $0.36 per share, indicating a change of +28.6% from the year-ago quarter. The Zacks Consensus Estimate has changed -1.5% over the last 30 days.
The overall direction and magnitude of estimate revisions translate into a Zacks Rank #3 (Hold) for Clearway Energy. Also, the stock has a VGM Score of F.