Constellation Energy Corporation
Revenue
$7B
Net Income
$929M
Constellation Energy Corporation
Revenue
$7B
Net Income
$929M
Constellation Energy Corporation
CIK: 0001868275
Earnings Analysis
Analyzed 11 of 12 reports
Performance Summary - Q3 2025bullish (66)maintained
Reality-Based Sentiment Analysisbullish66/100
Based on actual market data, not just management spin. Weighted score: 10% management tone + 40% earnings beat/miss + 30% price action + 20% guidance accuracy.
Financial Performance Trend
Overall Analysis & Outlook
Over the past 5 quarters, Constellation Energy Corporation has been consistently bullish with multiple guidance raises. Revenue has declined 13.2% during this period. The latest quarter shows neutral sentiment with neutral tone from management.
Latest Quarter Highlights:
Constellation Energy delivered steady financial performance in Q3 2025, with revenue of $6.57B and net income of $929M. The company maintained stable operations across multiple geographic regions, with strong operating cash flow of $3.43B.
Detailed Quarterly Reports
In-depth analysis of each quarter's earnings filing
Q3 2025
10-Q • Filed 11/7/2025
Summary
Constellation Energy delivered steady financial performance in Q3 2025, with revenue of $6.57B and net income of $929M. The company maintained stable operations across multiple geographic regions, with strong operating cash flow of $3.43B.
Revenue
$6.57B
Net Income
$929M
Guidance
Tone
Capex
$1.96B
Key Quotes
"We are the nation's largest producer of carbon-free energy"
"Our generating capacity includes primarily nuclear, wind, solar, natural gas, and hydroelectric assets"
Q2 2025
10-Q • Filed 8/7/2025
Summary
Constellation Energy delivered stable quarterly performance with revenues of $6.1B and net income of $833M. The company is focused on carbon-free energy generation and is pursuing a strategic acquisition of Calpine Corporation, which would expand its renewable and gas generation capabilities.
Revenue
$6.10B
Net Income
$833M
Guidance
Tone
Capex
$1.57B
Partnerships
Key Quotes
"We are the nation's largest producer of carbon-free energy"
"We expect to fund the cash portion of the transaction through cash on hand and cash flow generated by Calpine"
Q1 2025
10-Q • Filed 5/6/2025
Summary
Constellation Energy reported stable quarterly performance with revenues of $6.8 billion and net income of $129 million. The company is focused on strategic expansion, including a proposed merger with Calpine Corporation, while navigating regulatory uncertainties around nuclear tax credits.
Revenue
$6.79B
Net Income
$129M
Guidance
Tone
Capex
$806M
Partnerships
Key Quotes
"Beginning in 2024, our nuclear fleet is eligible for the nuclear PTC provided by the IRA, an important tool in managing commodity price risk"
"We expect the inflation factor for 2025 to be published in the second or third quarter of 2025"
Q4 2024
10-K • Filed 2/18/2025
Summary
Constellation Energy demonstrates strong performance in 2024, leveraging its carbon-free nuclear fleet and positioning for future growth through the proposed Calpine acquisition and Crane nuclear plant restart. The company benefits from nuclear production tax credits and is well-positioned in the clean energy transition.
Revenue
$13.49B
Net Income
$861M
Guidance
Tone
Capex
$1.60B
Partnerships
Key Quotes
"We are committed to a clean energy future and aim to meet the growing energy needs of all our customers."
"The demand for reliable, carbon-free energy and sustainability solutions continues to grow across the country."
"We will couple the largest producer of clean, carbon-free energy with the reliable, dispatchable natural gas assets of Calpine"
Q3 2024
10-Q • Filed 11/4/2024
Summary
Constellation Energy delivered strong quarterly performance with $6.55B in revenue and $1.2B in net income, driven by nuclear production tax credits and stable operational performance across geographic regions. The company is benefiting from the Inflation Reduction Act's nuclear production tax credit program.
Revenue
$6.55B
Net Income
$1.20B
Guidance
Tone
Capex
$1.84B(+5.8% YoY)
Key Quotes
"We have determined that we will meet the annual prevailing wage requirements at all our nuclear units and are eligible for the five times multiplier."
"During the third quarter of 2024, we executed agreements for the sale of $1 billion of nuclear PTCs to unaffiliated third parties"
Q2 2024
10-Q • Filed 8/6/2024
Summary
Constellation Energy delivered a stable quarterly performance with $5.475B in revenue and $809M in net income. The company continues to benefit from nuclear production tax credits and maintains a diverse geographic portfolio across power regions.
Revenue
$5.47B
Net Income
$809M
Guidance
Tone
Capex
$1.28B
Key Quotes
"Beginning in 2024, our nuclear fleet is eligible for the nuclear PTC provided by the IRA, an important tool in managing commodity price risk"
"Portfolio hedging activities are generally concentrated in the prompt three years"
Q1 2024
10-Q • Filed 5/9/2024
Summary
Constellation Energy reported strong Q1 2024 results with robust revenue of $6.161 billion and net income of $883 million, driven by nuclear production tax credits and effective commodity hedging strategies. The company continues to demonstrate financial resilience across diverse geographic power regions.
Revenue
$6.16B
Net Income
$883M
Guidance
Tone
Capex
$738M(+11.8% YoY)
Key Quotes
"Beginning in 2024, our nuclear fleet is eligible for the nuclear PTC provided by the IRA, an important tool in managing commodity price risk"
"We seek to mitigate the price risk associated with our load serving contracts, non-nuclear generation, and any residual price risk for our nuclear generation"
Q4 2023
10-K • Filed 2/27/2024
Summary
Constellation Energy is positioning itself as a leader in clean energy, with a focus on nuclear power and carbon-free generation. The company is committed to expanding its carbon-free fleet and supporting decarbonization efforts across the energy sector.
Revenue
$-1,504M
Net Income
$691M
Guidance
Tone
Capex
$875M
Partnerships
Key Quotes
"We are committed to a clean energy future and we believe our business is well-positioned to benefit from growing policy support for decarbonization"
"We will operate and grow the nation's largest fleet of clean, zero-emissions generation facilities"
Q3 2023
10-Q • Filed 11/6/2023
Summary
Constellation Energy delivered solid Q3 performance with $6.1B in revenue and $690M net income, driven by strong nuclear and clean energy generation. The company continues strategic growth through acquisitions like the South Texas Project nuclear plant.
Revenue
$6.11B
Net Income
$690M
Guidance
Tone
Capex
$1.74B
Partnerships
Key Quotes
"We believe New York will continue to promote policies that support nuclear in the state beyond 2029"
"This acquisition is complementary to and aligned strategically with our existing clean energy business operations"
Q2 2023
10-Q • Filed 8/3/2023
Summary
Constellation Energy delivered a strong Q2 2023 with solid financial performance, driven by clean energy generation and strategic expansion into nuclear assets. Despite some regulatory challenges, the company maintains a positive outlook and continues to invest in its clean energy portfolio.
Revenue
$5.45B
Net Income
$824M
Guidance
Tone
Capex
$1.34B
Partnerships
Key Quotes
"This acquisition is complementary to and aligned strategically with our existing clean energy business operations"
"We continue to proceed with the actions necessary to close the transaction by the end of 2023"
Q1 2023
10-Q • Filed 5/4/2023
Summary
Constellation Energy reported stable Q1 2023 financial performance with revenue of $7.565 billion and net income of $102 million. The company faces some regulatory challenges but maintains a neutral outlook across its geographic power regions.
Revenue
$7.57B
Net Income
$102M
Guidance
Tone
Capex
$660M
Key Quotes
"Our generating capacity includes primarily nuclear, wind, solar, natural gas and hydroelectric assets"
"We sell electricity, natural gas, and other energy related products and sustainable solutions"