Core News Facts
Constellation Energy (NASDAQ: CEG) faces potential delays in its major project to restart a reactor at the Crane Clean Energy Center, originally planned for 2027 to supply electricity to Microsoft (NASDAQ: MSFT) data centers. The Federal Energy Regulatory Commission (FERC) warns that connection to the grid might be postponed until 2030.
The utility company’s stock has dropped 15.3% in March and an additional 4% in April due to conservative earnings guidance and concerns over project delays. It reported a fourth-quarter earnings estimate of $11.50 per share, falling short of the analyst consensus of $11.78.
Despite the setbacks, Constellation’s acquisition of Calpine for $16.4 billion strengthens its natural gas portfolio amid rising demands from AI data centers, securing its position as a key electricity producer in the U.S.
