Investors might want to bet on Constellation Energy Corporation (CEG) , as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years i ...

Constellation Energy Today | --- | --- | |--------------------------|-------| | | | | | | | CEG | | | Constellation Energy | | | $186.25 +5.21 (+2.88%) | | | 52-Week Range | | | $102.40 ▼ | | | $236.30 | | | Dividend Yield 0.76% | | | P/E Ratio 24.87 | | | Price Target $232.00 | | | | | Add to Watchlist Constellation Energy NASDAQ: CEG is an energy stock that has benefited significantly from the artificial intelligence rally, with a total return of 57% so far in 2024. The fact that about 67% of the company' ...

Financial Data and Key Metrics Changes - Constellation Energy reported second quarter GAAP earnings of $2.58 per share and adjusted operating earnings of $1.68 per share, an increase of $0.04 per share compared to the previous year [7][30]. - The company raised its adjusted operating earnings guidance from a range of $7.23 to $8.03 per share to a new range of $7.60 to $8.40 per share, indicating strong business performance [7][33]. Business Line Data and Key Metrics Changes - The commercial business performed exceptionally well, optimizing generation and load positions, which contributed to higher margins above long-term averages [30][27]. - Nuclear performance was strong, producing over 41 million megawatt hours with a capacity factor of 95.4%, while renewables and natural gas fleets also exceeded performance expectations [26][27]. Market Data and Key Metrics Changes - The PJM capacity market auction results indicated tightening supply and demand fundamentals, with expectations for higher sustained pricing for capacity to address reliability needs [9][11]. - The company recognized $33 million in the Illinois ZEC program for banked credits, down from $218 million recognized last year, reflecting changes in market conditions [31][32]. Company Strategy and Development Direction - Constellation aims to grow base earnings by at least 10% through the decade, supported by federal PTC and opportunities in clean energy generation [8][39]. - The company is focusing on data center opportunities, emphasizing the importance of colocation with nuclear plants to enhance economic competitiveness and national security [15][19]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to meet growing electricity demand while maintaining reliability, highlighting the unique position of nuclear energy in the market [10][39]. - The company is optimistic about the future, citing the need for clean and reliable power generation to support economic growth and sustainability goals [39][40]. Other Important Information - Constellation was certified as a great place to work for the second consecutive year, reflecting a strong company culture and employee satisfaction [6]. - The company completed $1 billion in share buybacks year-to-date, indicating confidence in its stock and financial health [8][38]. Q&A Session Summary Question: Does the FERC technical conference prolong the timeline for a deal announcement? - Management indicated that while it may slow down the process for some, they are still moving forward with negotiations and do not need to wait for FERC clarity to finalize deals [44][45]. Question: Does the outcome of the PJM auction increase urgency for data center deals? - Yes, the auction results have increased urgency for both colocation and in-front-of-meter deals, as the market tightens and demand for clean, reliable megawatts grows [52][53]. Question: What are the state legislative priorities to support the colocation strategy? - The company plans to be reactive to state legislative developments and will work with stakeholders to ensure economic growth opportunities remain available [64].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q | --- | --- | --- | |-------------------------------------------------------------------------------|-------------------|-------------------------------------------| | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | | CONSTELLATION ENERGY CORPORATION: Common Stock, without par value | CEG | The Nasdaq Stock Market LLC | ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES E ...

Constellation Energy Corporation (CEG) reported second-quarter 2024 earnings of $1.68 per share, which surpassed the Zacks Consensus Estimate of $1.43 by 17.5%. The bottom line also increased 2.4% from the yearago quarter's figure of $1.64. Total Revenues Constellation Energy Corporation Price, Consensus and EPS Surprise Revenues totaled $5.48 billion, up 0.5% from the year-ago quarter's figure of $5.45 billion. Highlights of the Release Total operating expenses were $4.38 billion, down 8.4% from $4.78 bill ...

For all the volatility sweeping through Wall Street in 2024, renewable energy stocks remain a strong long-term bet for investors. The global renewable energy market was valued at $1.1 billion in 2023 and is expected to rally to $2.45 trillion by 2032, representing a compound annual growth rate (CAGR) of 9.47%. With many governments worldwide committing to clean energy initiatives over the coming decades, renewable energy stocks remain an excellent long-term investment strategy to incorporate into portfolios ...

Exhibit 99.1 News Release Contact: Paul Adams Corporate Communications 667-218-7700 Emily Duncan Investor Relations 833-447-2783 CONSTELLATION REPORTS SECOND QUARTER 2024 RESULTS Earnings Release Highlights • GAAP Net Income of $2.58 per share and Adjusted (non-GAAP) Operating Earnings of $1.68 per share for the second quarter of 2024 • Raising full-year 2024 Adjusted (non-GAAP) Operating Earnings guidance range to $7.60-$8.40 per share • Delivering on our commitment to shareholders, repurchased approximate ...

Demand for data center services is rising along with the popularity of artificial intelligence. One of the biggest themes fueling the capital markets right now is artificial intelligence (AI). What investors may not realize, however, is that there are many components of AI -- some of which sit quietly in the background. One of the most important narratives emerging in the AI revolution is data centers. While megacap tech behemoths such as Nvidia have benefited greatly from surging demand for data center ser ...

Constellation Energy Corporation (CEG) is going to report its second-quarter 2024 results on Aug 6. The Zacks Consensus Estimate for CEG's second-quarter revenues is pegged at $5.30 billion, indicating a 2.67% decline from the year-ago reported figure. The consensus estimate for earnings is pegged at $1.43 per share. The Zacks Consensus Estimate for CEG's second-quarter earnings has declined 23.9% in the past 60 days. The estimate suggests a year-over-year decline of 44.1%. | --- | --- | --- | --- | --- | | ...

Constellation Energy Corporation (CEG) shares soared 12.5% in the last trading session to close at $189.80. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 18.2% loss over the past four weeks. Constellation Energy is the largest owner of nuclear plants in the US and produces clean electricity for its customers. It expects to invest nearly $5.1 billion during 2024-2025 period to strengthen its infrastructure and purchase of nuclea ...