Constellation Energy Guides FY Adj EPS to $11.50-$12.50, Above Consensus
CEG sits 19% above its 52-week low of $228.63.
Summary
Constellation Energy issued FY adjusted EPS guidance of $11.50-$12.50, well above the $9.50 consensus. This follows a strong Q1 beat ($2.74 vs. $2.18) and the Calpine acquisition closing. The company also beat Q2 adjusted EPS estimates and raised its FY adjusted operating earnings guidance. The guidance signals management's confidence in sustained earnings power from the combined fleet and recent PJM capacity auction wins. The midpoint implies ~26% growth over current estimates, a material positive surprise. Watch for analyst revisions and the Q2 earnings call for further color on the outlook.
Updates
· SEC 8-K — Q2 adjusted EPS was $2.55 vs. $1.91 a year ago; GAAP EPS was $1.42 vs. $2.67. The company also signed 920 MW of new PPAs and agreed to sell Brazos Valley Energy Center for $860 million.
At the time of this announcement, CEG was trading at $271.00 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $95.2B. The 52-week trading range was $228.63 to $412.70. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.