Constellation Energy Corporation (CEG) reported a second-quarter adjusted EPS of $1.91 on August 3, 2023, surpassing the $1.84 consensus estimate, with revenues of $6.10 billion. The company reaffirmed its full-year guidance of $8.90 to $9.60 per share, attributing its performance to a robust nuclear fleet with 21 reactors generating 19,400 MW and a 20-year power agreement with Meta Platforms (META). In comparison, Vistra (VST) reported adjusted EBITDA of $1.35 billion and revenue of $4.25 billion, slightly below last year’s figures.
Vistra’s adjusted EBITDA dipped from $1.41 billion in the previous year, but revenue increased by about 10% year-over-year. The company confirmed its full-year guidance and raised its 2026 EBITDA outlook to above $6.8 billion. Additionally, Vistra announced the acquisition of seven natural gas facilities with a total capacity of ~2,600 MW, enhancing its natural gas portfolio to meet rising electricity demand.
Both companies are positioned to benefit from increasing electricity consumption tied to AI and cloud computing, offering stable cash flows and growth potential. Their stock prices remain near all-time highs amid strong investor confidence in the long-term electrification trends.
