Constellation Energy Reports Strong Q2 Earnings with Adjusted EPS of $2.55
Constellation Energy (NASDAQ: CEG) announced adjusted operating earnings of $920 million, or $2.55 per share, for Q2 2023, marking a 33% increase year-over-year and surpassing analyst estimates of $2.34. Following this performance, the company raised its full-year adjusted earnings guidance by $0.50, now projecting a range of $11.50 to $12.50 per share.
The earnings boost was largely attributed to Constellation’s acquisition of Calpine, which added 22 gigawatts of power generation capacity and is expected to contribute approximately $2 per share in adjusted earnings. With a total of 55 gigawatts in power generation capacity, Constellation continues to strengthen its position as the largest independent power producer in the U.S., engaging in long-term power purchase agreements with major clients, including Microsoft and Walmart.
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