Constellation Energy Q2 Earnings Beat Estimates, Revenues Rise Y/Y

Constellation Energy Corporation CEG reported second-quarter 2025 earnings of $1.91 per share, which surpassed the Zacks Consensus Estimate of $1.83 by 4.4%. The bottom line increased 13.7% from the year-ago quarter’s figure of $1.68.

CEG’s Total Revenues

Revenues totaled $6.1 billion, which surpassed the Zacks Consensus Estimate of $5.06 billion by 20.5%. The top line also increased 11.3% from the year-ago figure of $5.48 billion.

Highlights of CEG’s Q2 Release

Total operating expenses were $5.15 billion, up 17% from $4.4 billion in the year-ago period.

Operating income totaled $0.95 billion compared with $1.1 billion in the year-ago quarter.

Net interest expenses decreased 16.9% to $118 million from $142 million in the year-ago period.

Constellation Energy signed a 20-year power purchase agreement with Meta (for the full output of the Clinton Clean Energy Center) to support the latter’s clean energy goals and operations. The agreement, beginning June 2027, will support the relicensing and continued operations of the Clinton nuclear facility for another two decades and allow CEG to expand Clinton’s clean energy output by 30 megawatts through plant uprates.

CEG received regulatory approval from the New York State Public Service Commission, the Public Utility Commission of Texas and the Federal Energy Regulatory Commission for its acquisition of Calpine. CEG continues to expect this transaction to be closed in the fourth quarter of 2025. 

Crane Clean Energy Center is expected to return to service in 2027. The project was selected by PJM for expedited grid connection as part of its Reliability Resource Initiative, and CEG is ahead of schedule for other long lead-time items. Restarting Crane’s Unit 1 reactor will bring new, clean, firm and reliable energy to the grid at a time when it is needed to support growing demand.

CEG’s Financial Position

As of June 30, 2025, Constellation Energy had cash and cash equivalents of $1.97 billion compared with $3.02 billion as of Dec. 31, 2024.

As of June 30, 2025, the company had a long-term debt of $7.286 billion compared with $7.384 billion as of Dec. 31, 2024.

Cash provided in operating activities in the first six months of 2025 amounted to $1.58 billion against $1.34 billion cash used in the year-ago period.

Total capital expenditures in the first six months of 2025 were $1.57 billion compared with $1.28 billion a year ago.

CEG’s Guidance

Constellation Energy reaffirmed its full-year 2025 adjusted operating earnings guidance of $8.90-$9.60 per share. The Zacks Consensus Estimate for the same is pegged at $9.44 per share, which is higher than the midpoint of the guided range.

CEG’s Zacks Rank

Currently, Constellation Energy has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Recent Releases

Clearway Energy Inc. CWEN recorded second-quarter 2025 earnings of 28 cents per share, which lagged the Zacks Consensus Estimate of 67 cents by 58.2%.

CWEN’s long-term (three to five years) earnings growth rate is 38.65%. The Zacks Consensus Estimate for 2025 sales is pinned at $1.45 billion, implying a year-over-year increase of 5.8%.

CNX Resources Corporation CNX reported second-quarter 2025 operating earnings of 59 cents per share, which beat the Zacks Consensus Estimate of 39 cents by 51.3%.

CNX’s long-term earnings growth rate is 53.04%. The Zacks Consensus Estimate for 2025 sales is pinned at $1.91 billion, implying a year-over-year increase of 30.2%.

ONEOK Inc. OKE reported second-quarter 2025 operating earnings of $1.34 per share, which came in line with the Zacks Consensus Estimate.

OKE’s long-term earnings growth rate is 7.68%. The Zacks Consensus Estimate for 2025 sales is pinned at $34.86 billion, implying a year-over-year increase of 60.6%.

 

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This article originally published on Zacks Investment Research (zacks.com).

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