Companies · CEG
Constellation Energy
AI-generated · informational only · not investment advice · verify before relying.
Latest analysis
Updated Aug 6, 2026
Constellation Energy raises FY2026 adjusted EPS guidance to $11.50-$12.50 as Crane restart clears FERC and NRC regulatory hurdles
Constellation Energy's Q2 2026 8-K delivers two decisive regulatory clearances for the Crane Clean Energy Center restart — FERC's CIR transfer waiver and an NRC fuel license amendment — removing the primary obstacles to a 2027 restart and validating the company's nuclear-as-baseload strategy for AI-driven power demand. Management raised full-year Adjusted Operating Earnings guidance to $11.50-$12.50 per share, signed approximately 920 MWs of long-term nuclear PPAs in the quarter, and deployed approximately $2.2 billion year-to-date in share repurchases. The Brazos Valley Energy Center sale, satisfying the final DOJ condition of the Calpine acquisition, signals the regulatory integration of that transaction is now complete.
Tone: bullishRevenue
$25.5B
CEG 10-K · FY 2025
Employees
15,339
Revenue FY2024
$23.6B
Founded
2002
Profile
CEG 10-K Item 1 · Feb 24, 2026Constellation Energy is the largest private-sector power producer in the world and the nation's largest producer of clean and reliable energy, operating a 55 GW fleet spanning nuclear, natural gas, geothermal, hydro, wind, and solar facilities following its January 2026 acquisition of Calpine. The company also operates the nation's largest competitive retail electric supply business, serving approximately 2.5 million customer accounts including three-fourths of the Fortune 100. Its integrated model pairs emissions-free baseload generation with a customer-facing commercial and retail energy platform.
Read filing description ↓ Collapse description ↑
We are the nation's largest producer of clean and reliable energy. With 55 GWs of capacity from nuclear, natural gas, geothermal, hydro, wind and solar facilities, our fleet has the generating capacity to power the equivalent of 27 million homes, providing about 10% of the nation's clean energy and delivering the around-the-clock reliability needed to power America's growing economy. We are also the largest nuclear energy company in the U.S. and a leading competitive retail supplier, serving approximately 2.5 million customer accounts nationwide, including three-fourths of the Fortune 100. We are committed to investing in innovation and new technologies to drive the transition to a reliable, sustainable and secure energy future. Our nuclear fleet is the nation's largest, with current generating capacity of approximately 22 GWs, producing 183 TWhs of zero-emissions electricity during 2025. We operate the largest emissions-free generation fleet in the nation and are one of the largest competitive electric generation companies in the nation, as measured by owned and contracted MWs. We sell electricity, natural gas, and other energy-related products and sustainable solutions to various types of customers, including distribution utilities, municipalities, cooperatives, and commercial, industrial, public sector, and residential customers in markets across multiple geographic regions. We have five reportable segments representing the different geographic regions in which our owned generating resources are located and our customer-facing activities are conducted: Mid-Atlantic, Midwest, New York, ERCOT, and Other Power Regions.
Primary products
- Nuclear power generation
- Natural gas power generation
- Geothermal power generation
- Hydroelectric power generation
- Wind power generation
- Solar power generation
Business segments
End markets
Geographies
Named customers
“We operate the largest emissions-free generation fleet in the nation and are one of the largest competitive electric generation companies in the nation, as measured by owned and contracted MWs.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total consolidated operating revenues increased from $23,568 million in 2024 to $25,533 million in 2025, driven by higher revenues across reportable segments, partially offset by a significant decline in nuclear PTC recognition from approximately $2,080 million in 2024 to approximately $320 million in 2025.
The rest of CEG is for subscribers
Analysis, signals, diligence answers, M&A activity and every quote, each citing the filing it came from.