Constellation Energy (CEG) Q1 2025 Earnings Call May 06, 2025 09:00 AM ET Company Participants Emily Duncan - Senior Vice President, Investor Relations and Strategic InitiativesJoseph Dominguez - President , CEO & DirectorDaniel Eggers - EVP & CFODavid Dardis - Executive VP & Chief Legal and Policy OfficerDavid Arcaro - Executive Director - Equity ResearchPaul Zimbardo - Managing Director Conference Call Participants Jeremy Tonet - ED - Equity Research AnalystSteve Fleishman - Managing Director and Senior A ...

Nominations within the Board of Directors - Board of Directors composition - Proposal of Bernard Fontana as Chairman and Chief Executive Officer of EDF and appointment of the latter as interim Chief Executive Officer - Distribution of dividends in the form of a share premium Nominations within the Board of Directors and distribution of share premium The annual Ordinary General Meeting of EDF on 5 May 2025, upon the proposal of the Board of Directors, decided: The appointment of Mr. Bernard Fontana as Direct ...

Core Insights - Generac Holdings, Inc. emphasizes the importance of preparedness for the anticipated above-average 2025 hurricane season, which could lead to significant power outages and disruptions for homeowners [1][2][3] Industry Outlook - Colorado State University's forecast predicts 17 named storms for the 2025 hurricane season, with nine expected to become hurricanes and four reaching major hurricane strength (Category 3 or higher) [2] - The 2024 hurricane season was notably intense, with activity tracking 130% above normal, and the early forecast for 2025 is projected to be about 125% above the average of the past decade [2] Company Initiatives - Generac offers a comprehensive Hurricane Preparedness Guide, developed by power outage experts, which includes recommendations, safety tips, and best practices to help homeowners prepare for severe weather [3] - The company aims to protect homeowners from the disruptions caused by power outages, highlighting the reliance on electricity for daily life [3] Company Background - Generac Holdings, Inc. is a leading global designer, manufacturer, and provider of energy technology solutions, founded in 1959, and is known for its innovative backup power solutions [5]

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of NET Power, Inc. regarding a class action lawsuit alleging that the company made materially false and misleading statements about its Project Permian, which is unlikely to be completed on schedule and may incur higher costs than previously stated [1][2]. Group 1: Allegations - The complaint alleges that during the class period from June 9, 2023, to March 7, 2025, NET Power failed to disclose significant challenges related to the completion of its first utility-scale plant, Project Permian, including supply chain issues and site-specific challenges [1]. - It is claimed that the company's projections regarding the time and capital needed to complete Project Permian were unrealistic, which could negatively impact its business and financial results [1]. - The allegations suggest that the public statements made by the defendants were materially false and misleading throughout the relevant period [1]. Group 2: Class Action Details - Shareholders who purchased shares of NPWR during the specified class period are encouraged to register for the class action, with a deadline for lead plaintiff appointment set for June 17, 2025 [2]. - Once registered, shareholders will be enrolled in a portfolio monitoring software to receive updates on the case's status [2]. - Participation in the case incurs no cost or obligation for the shareholders [2]. Group 3: Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting the rights of investors affected by deceit and illegal business practices [3]. - The firm aims to ensure that companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements or omissions [3].

Core Viewpoint - Constellation Energy Corporation (CEG) is anticipated to show improvements in earnings per share for the first quarter of 2025, despite a projected decline in revenues compared to the previous year [1][2]. Earnings Estimates - The Zacks Consensus Estimate for CEG's first-quarter revenues is $5.92 billion, reflecting a decline of 3.87% year-over-year [1]. - The first-quarter earnings estimate is $2.14 per share, indicating a 17.58% increase from the same quarter last year [2]. - For the current quarter (March 2025), the earnings estimates range from a low of $2.05 to a high of $2.23, with an average estimate of $2.14 [3]. Earnings Performance - CEG has consistently surpassed earnings expectations in the past four quarters, with an average surprise of 10.16% [4]. - The company reported earnings of $2.44, $2.74, $1.68, and $1.82 in the last four quarters, with respective surprises of 11.42%, 0.74%, 17.48%, and 10.98% [5]. Earnings Prediction Model - The Zacks model indicates a likely earnings beat for CEG, supported by a positive Earnings ESP of +2.18% [6]. - CEG currently holds a Zacks Rank of 3 (Hold), which suggests a stable outlook [7]. Strategic Factors Influencing Earnings - CEG's strong nuclear fleet and high nuclear operating capacity factor are expected to positively impact first-quarter earnings by ensuring a consistent supply of clean energy [8]. - The company is actively expanding its renewable energy portfolio, which is anticipated to support long-term earnings growth and diversify its energy mix [9]. Stock Performance - CEG's shares have increased by 7.3% over the past six months, outperforming the industry average of 5.4% [10]. - The stock is currently trading at a premium compared to its industry on a forward 12-month P/E basis [12]. Investment Thesis - CEG's strategic investments and focus on expanding its renewable portfolio are key drivers of its earnings performance [14]. - The company is benefiting from systematic acquisitions that enhance its clean energy generation capacity [14]. Market Positioning - CEG is well-positioned to meet the rising demand for clean energy, particularly driven by the expansion of AI-powered data centers [15]. - Existing shareholders can expect benefits from ongoing dividends, share repurchase programs, and increasing earnings projections, contributing to a strong financial outlook [16].

Core Viewpoint - The AES Corporation reported a significant decline in adjusted earnings and total revenues for the first quarter of 2025, primarily due to lower contributions from its Energy Infrastructure segment and changes in tax attributes [1][3]. Financial Performance - Adjusted earnings for Q1 2025 were 27 cents per share, missing the Zacks Consensus Estimate of 37 cents by 27% and down 46% from 50 cents per share in the same quarter last year [1]. - GAAP earnings were reported at 7 cents per share, a decrease from 60 cents in Q1 2024, attributed to lower contributions from the Energy Infrastructure segment and one-time restructuring costs [2]. - Total revenues amounted to $2.93 billion, a 5.3% decline year-over-year, and missed the Zacks Consensus Estimate of $3.20 billion by 8.7% [3]. Cost and Income Analysis - Total cost of sales for the quarter was $2.49 billion, reflecting a 0.8% increase year-over-year [4]. - Operating income decreased to $441 million, down 28.8% from $619 million in the prior year [4]. - Interest expenses were $342 million, down 4.2% from $357 million in the same quarter last year [4]. Operational Highlights - The company signed 443 megawatts (MW) of new long-term power-purchase agreements (PPAs) for solar and energy storage, increasing the total backlog to 11.7 gigawatts (GW), with 5.3 GW currently under construction [5]. Financial Condition - Cash and cash equivalents stood at $1.75 billion as of March 31, 2025, up from $1.52 billion at the end of 2024 [6]. - Non-recourse debt increased to $21.61 billion from $20.63 billion as of December 31, 2024 [6]. - Net cash flow from operating activities was $545 million in Q1 2025, compared to $287 million in Q1 2024 [6]. Capital Expenditure - Total capital expenditure for the first quarter was $1.25 billion, down from $2.15 billion recorded a year ago [7]. Future Guidance - AES reaffirmed its 2025 earnings guidance, expecting adjusted earnings in the range of $2.10-$2.26 per share, with the Zacks Consensus Estimate at $2.16 per share [8]. - The company maintains an average annual earnings growth target of 7-9% through 2027 [8].

Group 1: Hydropower and Energy Storage - The Zhejiang Tiantai Pumped Storage Power Station, a key project under China's 14th Five-Year Plan, has successfully completed the rotor hoisting of its first unit, marking the entry into the assembly phase for the largest single-unit pumped storage generator in the country with a capacity of 425 megawatts [1][3] - The power station consists of upper and lower reservoirs, a water conveyance system, and an underground powerhouse, with a total installed capacity of 1,700 megawatts, expected to provide 1.7 billion kilowatt-hours of clean energy annually, equivalent to the electricity needs of 1.6 million people [7][5] - The project employs advanced technologies such as 3D printing, CNC machining, and welding, representing a significant achievement in the high-end development of China's pumped storage units [3] Group 2: Infrastructure Development - The Haitai Yangtze River Tunnel, currently under construction, is the world's longest underwater road tunnel at 11.185 kilometers, with a shield tunnel section of 9,315 meters, connecting Jiangsu Nantong and Suzhou [8][10] - The construction is being carried out by over 300 workers, utilizing the "Jianghai" shield machine, which has a diameter of 16.64 meters and is equipped with advanced technologies for efficient tunneling [10][12] - The tunnel is designed with a dual six-lane configuration and a speed limit of 100 kilometers per hour, expected to significantly enhance connectivity in the Yangtze River Delta region upon completion in 2028 [16] Group 3: Waterway Infrastructure - The Changjiang Navigation Channel Improvement Project in Jiangxi is progressing with over 100 workers on-site, focusing on enhancing the waterway's capacity to over 15 million tons annually [17][19] - The project utilizes smart management and technological innovations, including Building Information Modeling (BIM), which has optimized design and saved over 100 million yuan in investment [21] - Safety measures include the installation of 22 4K HD cameras for real-time monitoring, contributing to a comprehensive safety management system [23]

Agreement maintains reliable electricity supply in Baltimore through May 2029HOUSTON, May 01, 2025 (GLOBE NEWSWIRE) -- Talen Energy Corporation (“Talen”) (NASDAQ: TLN) announced today that the Federal Energy Regulatory Commission (the “FERC”) has approved the terms under which Talen will operate units at its Brandon Shores and H.A. Wagner power plants until May 31, 2029, beyond their scheduled May 31, 2025 retirement dates. Talen, PJM Interconnection, L.L.C. (“PJM”), and a broad coalition of the Maryland Pu ...

Core Insights - The AES Corporation reported a net loss of $73 million for Q1 2025, a significant decline from a net income of $278 million in Q1 2024, primarily due to higher prior year revenues from the monetization of the Warrior Run coal plant PPA and one-time restructuring costs [3][6][10] - The company reaffirmed its 2025 guidance for Adjusted EBITDA between $2,650 million and $2,850 million, with expected growth driven by new renewable projects and rate base growth at U.S. utilities [8][9][10] Strategic Accomplishments - The company completed the construction of 643 MW of energy storage and solar projects and is on track to add a total of 3.2 GW of new projects by the end of 2025 [10][11] - AES signed or awarded new long-term Power Purchase Agreements (PPAs) for 443 MW of solar and energy storage [10][11] - The sale of a minority interest in AES Global Insurance Company (AGIC) for $450 million helped achieve the full-year asset sale proceeds target of $400 to $500 million [10][11] Financial Highlights - Q1 2025 Adjusted EBITDA was $591 million, down from $640 million in Q1 2024, mainly due to lower contributions from the Energy Infrastructure SBU [4][7] - Adjusted EPS for Q1 2025 was $0.27, a decrease from $0.50 in Q1 2024, driven by lower realized tax attributes and contributions from the Energy Infrastructure SBU [7][10] - The company reported total revenue of $2,926 million for Q1 2025, compared to $3,085 million in Q1 2024, reflecting a decline in both regulated and non-regulated revenue streams [24][25] Financial Position and Outlook - The company reaffirmed its expectation for annualized growth in Adjusted EBITDA of 5% to 7% through 2027, based on a 2023 guidance base of $2,600 million to $2,900 million [9][10] - The total assets of the company increased to $48,615 million as of March 31, 2025, compared to $47,406 million at the end of 2024 [26][27] - The company expects to maintain its quarterly dividend payment of $0.17595 going forward [13]

EDMONTON, Alberta, May 01, 2025 (GLOBE NEWSWIRE) -- The annual meeting of shareholders (“annual meeting”) for Capital Power Corporation (TSX: CPX) (“Capital Power” or “the Corporation”) was held on April 29, 2025. Each of the matters voted upon at the annual meeting is discussed in detail in the Corporation’s Management Proxy Circular dated March 10, 2025 and available on the Corporation’s website at: www.capitalpower.com/AGM. The manner in which the ballots or proxies received, as applicable, were voted in ...