Constellation Third-Quarter GAAP Net Income of $5.19 Per Share and Adjusted Operating Earnings of $5.06; Nuclear Fleet Generates 46,677 GWh as Full-Year Guidanc
BALTIMORE, Maryland — Constellation Energy Corporation (Nasdaq: CEG) reported on November 9 its financial results for the third quarter of 2026. According to the company's official earnings release, GAAP net income attributable to common shareholders was $1,835 million, or $5.19 per share, up from $930 million, or $2.97 per share, in the third quarter of 2025. Adjusted (non-GAAP) operating earnings were $1,792 million, or $5.06 per share, up from $952 million, or $3.04 per share. The company said the adjusted increase primarily reflected favorable market and portfolio conditions and the addition of Calpine, partially offset by unfavorable interest and nuclear production tax credit portfolio effects. Operating revenues were $9.55 billion, compared with $6.57 billion a year earlier.
Constellation raised the midpoint of, and narrowed, its full-year 2026 adjusted operating earnings guidance to $12.50 to $12.80 per share. Chief Financial Officer Shane Smith said in the release that the quarter's performance allowed the second midpoint increase this year. The nuclear fleet, including the company's owned output from the Salem and South Texas Project generating stations, produced 46,677 gigawatt-hours in the quarter, compared with 46,477 GWh a year earlier; excluding Salem and STP, the nuclear plants at ownership achieved a 97.2% capacity factor, compared with 96.8% a year earlier.
On transactions and agreements, the company agreed to acquire all of the equity interests in RISEC Holdings, owner of the 609-megawatt Rhode Island State Energy Center natural gas-fired combined-cycle facility, from Shell Energy North America for $715 million, subject to customary purchase price adjustments and regulatory approvals. The release also listed a 20-year, 690 MW power purchase agreement with Amazon and a related retail supply agreement enabling more than $3 billion of investment at the Calvert Cliffs Clean Energy Center, including a 190 MW expansion expected online between 2030 and 2032; a 20-year collaboration with Google enabling more than $4.3 billion of investment across 11 nuclear units in Illinois, Pennsylvania and New Jersey to add approximately 890 MW, with the first uprate expected in 2028, alongside a 15-year, 2,700 MW financial energy load-following agreement; and a first Peak+ agreement, a 20-year, 270 MW arrangement beginning in 2028. Chairman, President and Chief Executive Officer Joe Dominguez said the agreements announced in the quarter add more than 1,000 megawatts of new, emissions-free generation to the grid.
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Source: Constellation Energy (company earnings
Published by GSM · USA (original Chinese edition)
Photo: 核电站冷却塔（资料图）。（Wikimedia Commons／CC BY-SA 4.0）|Nuclear power plant cooling towers (file photo). (Wikimedia Commons / CC BY-SA 4.0)
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