Constellation Energy Corp (NASDAQ:CEG) shares are trading higher on Tuesday after the company reported upbeat fourth-quarter FY25 results.
Details
Revenue of $6.07 billion beat the consensus of $5.300 billion.
Adjusted EPS fell to $2.30 from $2.44 in the year-ago quarter, but exceeded the consensus of $2.23.
Earnings were impacted by weak results from the nuclear PTC portfolio.
Operating income for the quarter declined to $598 million from $972 million a year ago.
Key Metrics
Constellation's nuclear fleet produced 45,459 GWh in the quarter, slightly lower than the last year.
Excluding Salem and STP, capacity reached 93.1%. The quarter saw 63 planned refueling outage days and 30 non-refueling outage days.
The company's gas and pumped storage fleet achieved a 99.4% dispatch match rate, up from 93.2%, while renewables captured 97.2% of available energy, versus 95.7% in the prior year quarter.
Dividend
The company declared a quarterly dividend of $0.4265 per share, payable on March 20, 2026, to shareholders of record as of March 9, 2026.
The company raised the annual dividend per share by 10% and expects to increase it by another 10% in 2026.
Management Commentary
Joe Dominguez, president and CEO of Constellation, said, “With the nation’s largest nuclear fleet at the core of our strategy, we’re pairing the grid’s most reliable power with flexible resources to meet accelerating demand driven by electrification and the data economy. Our long-term agreements with Microsoft, Meta and most recently CyrusOne demonstrate how we’re putting that expanded portfolio to work while maintaining reliability for customers and keeping costs stable.”
Shane Smith, executive vice president and chief financial officer, added, “After closing the Calpine transaction, we enter 2026 with the financial strength and flexibility to continue investing in growth and extending the life of our portfolio while delivering long-term value for shareholders. We look forward to sharing our financial outlook and strategy for 2026 and beyond with you on our March 31st conference call.”
The company will discuss the 2026 outlook on the upcoming Business and Earnings Outlook call on March 31, 2026.
Expand Texas Data Center Power
This month, the company’s Calpine LLC unit signed a major new power agreement with data-center operator CyrusOne in Texas.
Calpine agreed to supply 380 megawatts of power, grid connectivity and site infrastructure for a new CyrusOne data center to be built next to the Freestone Energy Center in Freestone County, with an exclusive option for a second 380-MW phase.
CEG Price Action: Constellation Energy shares were up 5.74% at $310.64 at the time of publication on Tuesday, according to Benzinga Pro data.
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