CEG Q4 2025

Q4 2025 Q3 2025 Q2 2025 Q1 2025

Earnings

Constellation Energy delivered a mixed but strategically pivotal fourth quarter, posting adjusted EPS of $2.30 against a consensus estimate of $2.26, a 1.83% beat, while revenue of $6.07 billion fell well short of the $10.33 billion Wall Street expec… Read more Constellation Energy delivered a mixed but strategically pivotal fourth quarter, posting adjusted EPS of $2.30 against a consensus estimate of $2.26, a 1.83% beat, while revenue of $6.07 billion fell well short of the $10.33 billion Wall Street expected, a 41.21% miss, and declined 10.5% year over year. The adjusted earnings shortfall from a year ago, when the company earned $2.44 per share on an adjusted basis, was driven primarily by unfavorable nuclear Production Tax Credit portfolio results, though favorable market and portfolio conditions provided a partial offset. On a GAAP basis, net income dropped sharply to $432 million, or $1.38 per share, from $852 million in Q4 2024, reflecting the weight of acquisition-related costs tied to the landmark Calpine deal, which closed January 7, 2026, creating the nation's largest private-sector power producer at 55 gigawatts of combined capacity. With data center momentum building and a 10% dividend increase expected in 2026, investors are watching the March 31 Business and Earnings Outlook call closely for formal guidance from the newly expanded enterprise.