Constellation Energy Q3 Earnings Lag Estimates, Revenues Rise Y/Y

Constellation Energy Corporation CEG reported third-quarter 2025 earnings of $3.04 per share, which lagged the Zacks Consensus Estimate of $3.13 by 2.89%. The bottom line increased 10.9% from the year-ago quarter’s figure of $2.74.

CEG’s Total Revenues

Revenues totaled $6.57 billion, which beat the Zacks Consensus Estimate of $6.12 billion by 7.3%. The top line also increased 0.3% from the year-ago figure of $6.55 billion.

Constellation Energy Corporation Price, Consensus and EPS Surprise

Constellation Energy Corporation price-consensus-eps-surprise-chart | Constellation Energy Corporation Quote

Highlights of CEG’s Q3 Release

Total operating expenses were $5.48 billion, up 7.8% from $5.1 billion in the year-ago period.

Operating income totaled $1.08 billion compared with $1.47 billion in the year-ago quarter.

Net interest expenses decreased 8.8% to $134 million from $147 million in the year-ago period.

Constellation Energy’s owned output from the Salem and South Texas Project Generating Stations produced 46,477 gigawatt-hours (GWhs) in the third quarter of 2025, compared with 45,510 GWhs in the third quarter of 2024.

Renewable energy capture for the company’s wind, solar and run-of-river hydro fleet was 96.8% compared with 96% in the third quarter of 2024.

During the quarter, the company entered into a settlement with Maryland Department of the Environment for the continued operation of the Conowingo dam. This will allow the company to operate its Conowingo hydroelectric facility.

CEG’s Financial Position

As of Sept. 30, 2025, Constellation Energy had cash and cash equivalents of $3.96 billion compared with $3.02 billion as of Dec. 31, 2024.

The company had a long-term debt of $7.27 billion as of Sept. 30, 2025, compared with $7.38 billion as of Dec. 31, 2024.

Cash provided in operating activities in the first nine months of 2025 amounted to $3.43 billion against $1.45 billion cash used in the year-ago period.

Total capital expenditures in the first nine months of 2025 were $1.96 billion compared with $1.83 billion a year ago.

CEG’s Guidance

Constellation Energy narrowed its full-year 2025 adjusted operating earnings guidance to $9.05-$9.45 from the previous range 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.

Other Releases From the Sector

Devon Energy Corp. DVN reported third-quarter 2025 earnings per share (EPS) of $1.04, beating the Zacks Consensus Estimate of 93 cents by 11.8%.
 
DVN’s long-term (three-to-five years) earnings growth rate is currently pinned at 3.28%. The Zacks Consensus Estimate for 2025 EPS is pegged at $3.93, indicating a year-over-year decline of 18.46%.

TotalEnergies SE TTE reported third-quarter 2025 operating earnings of $1.77 (€1.50) per share, which missed the Zacks Consensus Estimate of $1.81 by 2.2%.

TTE’s long-term (three-to-five years) earnings growth rate is currently pinned at 5.89%. The Zacks Consensus Estimate for 2025 EPS is pegged at $7.06, indicating a year-over-year decline of 9.14%.

Chevron Corporation CVX reported adjusted third-quarter earnings per share of $1.85, beating the Zacks Consensus Estimate of $1.66.

CVX’s long-term earnings growth rate is currently pinned at 4.91%. The Zacks Consensus Estimate for 2025 EPS is pegged at $7.29, indicating a year-over-year decline of 27.46%.

 

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

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