Constellation Energy Corporation (CEG) came out with quarterly earnings of $1.82 per share, beating the Zacks Consensus Estimate of $1.64 per share. This compares to earnings of $0.29 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 10.98%. A quarter ago, it was expected that this company would post earnings of $1.70 per share when it actually produced a loss of $0.11, delivering a surprise of -106.47%.Over the last four quarte ...

Financial Performance - GAAP Net Income for Q1 2024 was $2.78 per share, while Adjusted (non-GAAP) Operating Earnings were $1.82 per share[1] - GAAP Net Income for Q1 2024 increased to $2.78 per share from $0.29 per share in Q1 2023, while Adjusted (non-GAAP) Operating Earnings rose to $1.82 per share from $0.78 per share[35] - GAAP Net Income Attributable to Common Shareholders for Q1 2024 was $883 million, with Earnings Per Share of $2.78[48] - Adjusted (non-GAAP) Operating Earnings for Q1 2024 were $579 million, with Earnings Per Share of $1.82[48] - Operating revenues for Q1 2024 were $6.161 billion, a decrease from $7.565 billion in Q1 2023[62] - Purchased power and fuel expenses decreased to $3.417 billion in Q1 2024 from $5.729 billion in Q1 2023[62] - Net cash flows provided by operating activities were negative $723 million in Q1 2024, compared to negative $934 million in Q1 2023[56] - Capital expenditures for Q1 2024 were $738 million, an increase from $660 million in Q1 2023[56] Shareholder and Credit Updates - The company repurchased $500 million worth of shares in Q1 2024, bringing cumulative repurchases to $1.5 billion since 2023[1][7] - Moody's upgraded the company's credit rating from Baa2 to Baa1, reflecting confidence in its financial performance[1][7] - The company issued a $900 million, 30-year term green bond, the first of its kind in the U.S. to include nuclear energy in its use of funds[59] Nuclear Energy Performance - Nuclear fleet produced 45,391 GWhs in Q1 2024, up from 42,463 GWhs in Q1 2023, with a capacity factor of 93.3% excluding Salem and STP[20] - The company's nuclear plants had 78 planned refueling outage days in Q1 2024, down from 86 in Q1 2023[20] - Total Nuclear Generation increased to 45,391 GWhs in Q1 2024 from 42,463 GWhs in Q1 2023, with ERCOT contributing 2,202 GWhs in 2024 compared to none in 2023[41] - Total Outage Days decreased to 88 in Q1 2024 from 95 in Q1 2023, with refueling outage days dropping from 86 to 78[31] Renewable and Carbon-Free Energy - The company's annual output is nearly 90% carbon-free, with the capacity to power the equivalent of more than 16 million average homes[23] - Renewable energy capture for the fleet was 96.3% in Q1 2024, slightly down from 96.6% in Q1 2023, while the dispatch match rate was 97.9% compared to 98.4% in Q1 2023[47] Financial Position and Liabilities - The company's total liabilities increased to $40.454 billion as of March 31, 2024, up from $39.472 billion at the end of 2023[10] - Shareholders' equity increased to $11.56 billion as of March 31, 2024, up from $11.286 billion at the end of 2023[10] - Total current assets increased to $8,460 million in Q1 2024 from $8,299 million in Q4 2023, with cash and cash equivalents rising from $368 million to $562 million[38] Earnings Guidance - The company reaffirmed its full-year 2024 Adjusted (non-GAAP) Operating Earnings guidance range of $7.23 - $8.03 per share[1] - Constellation reaffirmed its full-year adjusted (non-GAAP) earnings guidance of $7.23 to $8.03 per share[44] Energy Generation and Market Prices - Total Natural Gas, Oil, and Renewables generation increased to 8,274 GWhs in Q1 2024 from 7,251 GWhs in Q1 2023, with ERCOT contributing 3,516 GWhs in 2024 compared to 3,286 GWhs in 2023[41] - Total Purchased Power decreased to 14,742 GWhs in Q1 2024 from 15,726 GWhs in Q1 2023, with Mid-Atlantic region reducing purchased power from 4,035 GWhs to 3,370 GWhs[41] - ZEC Reference Prices for New Jersey (Mid-Atlantic) remained at $10.00/MWh in Q1 2024, slightly up from $9.88/MWh in Q1 2023[42] - Electricity reference prices for PJM West (Mid-Atlantic) increased to $34.25 in 2024 from $33.12 in 2023[64] - ComEd (Midwest) electricity reference prices decreased to $26.07 in 2024 from $26.80 in 2023[64] - Central (New York) electricity reference prices increased to $34.88 in 2024 from $30.16 in 2023[64]

Constellation Energy Corporation (CEG) is scheduled to release first-quarter 2024 results on May 9. This utility reported a negative earnings surprise of 106.5% in the last reported quarter.The Zacks Consensus Estimate for earnings is pegged at $1.99 per share on revenues of $8.4 billion. The top and bottom-line estimates suggest increases of 11.1% and 586.2%, respectively, from those reported a year ago.Per our proven model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Bu ...

The artificial intelligence frenzy may be just getting started.AI has been the buzzword over the last year as companies race to leverage the power of new technologies. Big tech remains at the forefront of the movement; chipmakers, software companies, and cloud computing giants are garnering more revenues amid the emergence of generative AI.But the artificial intelligence hype reaches far beyond big tech.The secret winners of the AI boom?The companies that will power it. Literally.Utilities are expected to w ...

Constellation Energy Corporation (CEG) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Shares of this company have returned +1.5% over the past month versus the Zacks S&P 500 composite's -3% change. The Zacks Alternative Energy - Other industry, to which Constellation Energy Corporation belongs, has gained 13.6% over this period. Now the key question is: Where coul ...

Wall Street witnessed an impressive bull run in the past 15 months. The rally was primarily led by growth stocks, especially, technology stocks. Consequently, the tech-heavy Nasdaq Composite Index took the lead role in enabling U.S. stock markets to resume their northward journey after a highly disappointing 2022.Moreover, the ongoing tech rally was led by a massive thrust toward artificial intelligence (AI), especially generative AI. The rapid penetration of digital technologies and the Internet worldwide ...

AI Requires Data CentersData centers are integral to the AI buildout because they yield the computational power and storage necessary for training and deploying large language models like OpenAI and Microsoft’s ((MSFT) “ChatGPT,” and Alphabet’s ((GOOGL) “Bard” at scale. Running an LLM requites facilities that house numerous servers and specialized hardware optimized for tasks such as deep learning. Unfortunately, these complex systems require a ton of energy due to their intense processing demands and the p ...

From a technical perspective, Constellation Energy Corporation (CEG) is looking like an interesting pick, as it just reached a key level of support. CEG recently overtook the 20-day moving average, and this suggests a short-term bullish trend.The 20-day simple moving average is a well-liked trading tool because it provides a look back at a stock's price over a 20-day period. Additionally, short-term traders find this SMA very beneficial, as it smooths out short-term price trends and shows more trend reversa ...

Are you looking for non-tech stocks to buy that will do well and outperform the Magnificent Seven? Despite some of the top tech stocks not doing well in 2024, the Bloomberg Magnificent 7 Total Return Index is up nearly 19% year-to-date (YTD) and 73% over the past year. It’s going to be tough to match that kind of firepower. According to Finviz.com, of the 503 stocks in the S&P 500, 79 are outperforming the Magnificent 7 in 2024. Of those, 63 are non-tech stocks. The three featured on this list come from dif ...

Constellation Energy Corporation (CEG) closed the most recent trading day at $191.08, moving +1.58% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 0.95%. On the other hand, the Dow registered a loss of 1.09%, and the technology-centric Nasdaq decreased by 0.84%.The company's stock has climbed by 11.72% in the past month, exceeding the Oils-Energy sector's gain of 8.7% and the S&P 500's gain of 1.78%.The upcoming earnings release of Constellation Energy Co ...