Constellation Energy Corporation (CEG) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock. Over the past month, shares of this company have returned +16.7%, compared to the Zacks S&P 500 composite's +2.5% change. During this period, the Zacks Alternative Energy - Other industry, which Constellation Energy Corporation falls in, has gained 11.7%. The key question now is: What could b ...

Constellation Energy Corporation (NASDAQ:CEG) Q1 2024 Earnings Conference Call May 9, 2024 10:00 AM ET Company Participants Emily Duncan - Senior Vice President, Investor Relations and Strategic Growth Joseph Dominguez - President and Chief Executive Officer Daniel Eggers - Executive Vice President and Chief Financial Officer James McHugh - Chief Commercial Officer Conference Call Participants David Arcaro - Morgan Stanley Steve Fleishman - Wolfe Research Durgesh Chopra - Evercore ISI Operator Good day, lad ...

Constellation Energy Corporation (CEG) reported first-quarter 2024 earnings of $1.82 per share, which surpassed the Zacks Consensus Estimate of $1.64 per share by 11%. In the year-ago quarter, the company recorded earnings of 78 cents per share.Total RevenuesConstellation Energy’s revenues totaled $6.2 billion, which missed the Zacks Consensus Estimate of $8.4 billion by 26.7%. The top line also declined 18.4% from the year-ago quarter’s figure of $7.6 billion.Highlights of the ReleaseTotal operating expens ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ConstellationEnergyCorporation ConstellationEnergyGeneration,LLC Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ý No ¨ Indicate by check mark whether the registrant ...

Constellation Energy Corporation (CEG) came out with quarterly earnings of $1.82 per share, beating the Zacks Consensus Estimate of $1.64 per share. This compares to earnings of $0.29 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 10.98%. A quarter ago, it was expected that this company would post earnings of $1.70 per share when it actually produced a loss of $0.11, delivering a surprise of -106.47%.Over the last four quarte ...

Financial Performance - GAAP Net Income for Q1 2024 was $2.78 per share, while Adjusted (non-GAAP) Operating Earnings were $1.82 per share[1] - GAAP Net Income for Q1 2024 increased to $2.78 per share from $0.29 per share in Q1 2023, while Adjusted (non-GAAP) Operating Earnings rose to $1.82 per share from $0.78 per share[35] - GAAP Net Income Attributable to Common Shareholders for Q1 2024 was $883 million, with Earnings Per Share of $2.78[48] - Adjusted (non-GAAP) Operating Earnings for Q1 2024 were $579 million, with Earnings Per Share of $1.82[48] - Operating revenues for Q1 2024 were $6.161 billion, a decrease from $7.565 billion in Q1 2023[62] - Purchased power and fuel expenses decreased to $3.417 billion in Q1 2024 from $5.729 billion in Q1 2023[62] - Net cash flows provided by operating activities were negative $723 million in Q1 2024, compared to negative $934 million in Q1 2023[56] - Capital expenditures for Q1 2024 were $738 million, an increase from $660 million in Q1 2023[56] Shareholder and Credit Updates - The company repurchased $500 million worth of shares in Q1 2024, bringing cumulative repurchases to $1.5 billion since 2023[1][7] - Moody's upgraded the company's credit rating from Baa2 to Baa1, reflecting confidence in its financial performance[1][7] - The company issued a $900 million, 30-year term green bond, the first of its kind in the U.S. to include nuclear energy in its use of funds[59] Nuclear Energy Performance - Nuclear fleet produced 45,391 GWhs in Q1 2024, up from 42,463 GWhs in Q1 2023, with a capacity factor of 93.3% excluding Salem and STP[20] - The company's nuclear plants had 78 planned refueling outage days in Q1 2024, down from 86 in Q1 2023[20] - Total Nuclear Generation increased to 45,391 GWhs in Q1 2024 from 42,463 GWhs in Q1 2023, with ERCOT contributing 2,202 GWhs in 2024 compared to none in 2023[41] - Total Outage Days decreased to 88 in Q1 2024 from 95 in Q1 2023, with refueling outage days dropping from 86 to 78[31] Renewable and Carbon-Free Energy - The company's annual output is nearly 90% carbon-free, with the capacity to power the equivalent of more than 16 million average homes[23] - Renewable energy capture for the fleet was 96.3% in Q1 2024, slightly down from 96.6% in Q1 2023, while the dispatch match rate was 97.9% compared to 98.4% in Q1 2023[47] Financial Position and Liabilities - The company's total liabilities increased to $40.454 billion as of March 31, 2024, up from $39.472 billion at the end of 2023[10] - Shareholders' equity increased to $11.56 billion as of March 31, 2024, up from $11.286 billion at the end of 2023[10] - Total current assets increased to $8,460 million in Q1 2024 from $8,299 million in Q4 2023, with cash and cash equivalents rising from $368 million to $562 million[38] Earnings Guidance - The company reaffirmed its full-year 2024 Adjusted (non-GAAP) Operating Earnings guidance range of $7.23 - $8.03 per share[1] - Constellation reaffirmed its full-year adjusted (non-GAAP) earnings guidance of $7.23 to $8.03 per share[44] Energy Generation and Market Prices - Total Natural Gas, Oil, and Renewables generation increased to 8,274 GWhs in Q1 2024 from 7,251 GWhs in Q1 2023, with ERCOT contributing 3,516 GWhs in 2024 compared to 3,286 GWhs in 2023[41] - Total Purchased Power decreased to 14,742 GWhs in Q1 2024 from 15,726 GWhs in Q1 2023, with Mid-Atlantic region reducing purchased power from 4,035 GWhs to 3,370 GWhs[41] - ZEC Reference Prices for New Jersey (Mid-Atlantic) remained at $10.00/MWh in Q1 2024, slightly up from $9.88/MWh in Q1 2023[42] - Electricity reference prices for PJM West (Mid-Atlantic) increased to $34.25 in 2024 from $33.12 in 2023[64] - ComEd (Midwest) electricity reference prices decreased to $26.07 in 2024 from $26.80 in 2023[64] - Central (New York) electricity reference prices increased to $34.88 in 2024 from $30.16 in 2023[64]

Constellation Energy Corporation (CEG) is scheduled to release first-quarter 2024 results on May 9. This utility reported a negative earnings surprise of 106.5% in the last reported quarter.The Zacks Consensus Estimate for earnings is pegged at $1.99 per share on revenues of $8.4 billion. The top and bottom-line estimates suggest increases of 11.1% and 586.2%, respectively, from those reported a year ago.Per our proven model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Bu ...

The artificial intelligence frenzy may be just getting started.AI has been the buzzword over the last year as companies race to leverage the power of new technologies. Big tech remains at the forefront of the movement; chipmakers, software companies, and cloud computing giants are garnering more revenues amid the emergence of generative AI.But the artificial intelligence hype reaches far beyond big tech.The secret winners of the AI boom?The companies that will power it. Literally.Utilities are expected to w ...

Constellation Energy Corporation (CEG) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Shares of this company have returned +1.5% over the past month versus the Zacks S&P 500 composite's -3% change. The Zacks Alternative Energy - Other industry, to which Constellation Energy Corporation belongs, has gained 13.6% over this period. Now the key question is: Where coul ...

Wall Street witnessed an impressive bull run in the past 15 months. The rally was primarily led by growth stocks, especially, technology stocks. Consequently, the tech-heavy Nasdaq Composite Index took the lead role in enabling U.S. stock markets to resume their northward journey after a highly disappointing 2022.Moreover, the ongoing tech rally was led by a massive thrust toward artificial intelligence (AI), especially generative AI. The rapid penetration of digital technologies and the Internet worldwide ...