Constellation Energy

Q2 FY2026 EarningsQ2 FY2026 Adjusted Operating Earnings of $2.55 per share beat consensus of $2.28 by 11.84%, driven by the integration of Calpine and favorable market conditions. Revenue of $7.50B was slightly below the $7.63B expected, while nuclear capacity factors decreased to 93.0% due to increased planned refueling outages. Management raised the full-year FY2026 Adjusted EPS guidance to $11.50 – $12.50, surpassing the implicit market trajectory and signaling strong momentum in clean energy demand.