CEG Q3 2025

Q4 2025 Q3 2025 Q2 2025 Q1 2025

Earnings

Constellation Energy delivered a solid Q3 2025, with adjusted operating earnings climbing to $3.04 per share, up from $2.74 a year earlier, on revenue of $6.57 billion, as an exceptionally strong nuclear fleet performance and favorable market conditi… Read more Constellation Energy delivered a solid Q3 2025, with adjusted operating earnings climbing to $3.04 per share, up from $2.74 a year earlier, on revenue of $6.57 billion, as an exceptionally strong nuclear fleet performance and favorable market conditions drove the beat. The company's nuclear output reached 46,477 GWhs for the quarter, achieving a 96.8% capacity factor while total outage days plummeted to just 28 from 57 in Q3 2024, a operational improvement that underpinned the rise in adjusted net income to $952 million. GAAP results told a murkier story, with net income falling to $930 million from $1.2 billion, pressured by mark-to-market adjustments and a higher tax rate. Management responded to the strong execution by narrowing full-year 2025 guidance to $9.05–$9.45 per share, a tighter band that signals confidence heading into the anticipated Q4 close of the Calpine acquisition, a deal that has already prompted significant investor attention. The company also secured a $1 billion DOE loan guarantee to restart the Crane Clean Energy Center, adding further fuel to its long-term growth trajectory.