Financial Data and Key Metrics Changes - Constellation Energy reported third-quarter GAAP earnings of $2.97 per share and adjusted operating earnings of $3.04 per share, an increase of $0.30 per share compared to the same period last year [5][17][22] - The company experienced fewer nuclear outage days, both planned and unplanned, contributing to higher generation volumes and lower O&M expenses year-over-year [18][19] - The stock has appreciated over 50% year-to-date, benefiting shareholders but creating O&M headwinds from stock compensation plans [22][26] Business Line Data and Key Metrics Changes - The nuclear fleet achieved a capacity factor of 96.8%, consistently outperforming the industry average by about 4% [19] - Renewable energy capture was at 96.8%, and power dispatch matched at 95.5% during the quarter [19] - The commercial team reported strong performance with sales margins above long-term averages, although a decline in CNI gas renewal rates was noted due to the loss of a large low-margin customer [20][21] Market Data and Key Metrics Changes - The market for nuclear energy is experiencing increased public support, with nearly three-quarters of the public favoring nuclear energy and nine out of ten supporting the extension of licenses for existing plants [10][11] - The company is seeing a significant increase in interest from sophisticated customers in the data economy, indicating a shift in buyer maturity [6][7] Company Strategy and Development Direction - Constellation is focused on closing the Calpine transaction and integrating the two companies to enhance value for customers and shareholders [27] - The company is actively pursuing opportunities in the data economy and is committed to providing clean, reliable energy solutions [28] - The strategic emphasis is on maintaining a strong balance sheet, delivering annual dividend growth, and pursuing growth opportunities that meet a double-digit unlevered return threshold [26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to execute transactions in the data economy and highlighted the importance of practical reforms for connecting large loads to the grid [8][10] - The company remains cautious yet optimistic about new nuclear construction, emphasizing the need for durable PPAs and clear pricing [46][47] - The overall power demand is expected to grow, and Constellation's existing fleet is well-positioned to meet future energy needs [28] Other Important Information - A landmark agreement was reached with the state of Maryland for the continued operation of Conowingo Dam for the next 50 years, ensuring a vital source of clean energy [9] - The company is exploring energy options for Maryland and the region, including the potential for new dispatchable generation resources [15] Q&A Session Summary Question: Update on hyperscaler deals - Management is focused on front-of-the-meter deals and expects to complete transactions soon, potentially before the next quarterly call [30] Question: Concerns about Calpine asset sale delays - Management is confident about the timeline for asset sales and is not in a hurry, ensuring the right assets are targeted for divestiture [36] Question: Insights on power market dynamics - Management noted that energy prices are rising, which is favorable for asset sales and contract negotiations [41][42] Question: Demand response initiatives - The company is seeing strong interest from industrial customers in demand response programs, aiming to provide innovative solutions [52][53] Question: Retail margins in PJM - Retail margins remain strong, with some competitive pressures noted, but overall margins are above historical averages [55]

Financial Performance - Q3 2025 GAAP earnings were $2.97 per share[11], while Adjusted Operating Earnings* were $3.04 per share[11] - The company narrowed its standalone Adjusted Operating Earnings* guidance range to $9.05 - $9.45 per share[11] - Constellation's nuclear fleet operated at nearly full power over the summer, providing clean, reliable energy for approximately 16 million homes[11] - The company generated approximately 47.2 TWh of emissions-free electricity, avoiding approximately 31.7 million metric tons of carbon dioxide[24] Strategic Initiatives and Growth - The Calpine acquisition remains on track to close in Q4[11] - Constellation reached a historic settlement with Maryland to provide clean energy from the Conowingo Dam for another 50 years[11] - The company filed for expedited permitting of up to 1,500 MWs in Maryland to support reliability[11, 16] - A five-year credit facility increased to $7.0 billion, maturing September 2030[35] Nuclear Energy and Policy Support - Recent polling indicates that 72% of U.S adults favor nuclear energy, with 87% supporting license renewals and 64% agreeing with building new nuclear[14] - New York supports new and existing nuclear, with Governor Hochul calling for adding 1 GW of new nuclear in New York[14]

Earnings Reports - Major earnings reports are expected from The Walt Disney Company before the market opens next Thursday and from Applied Materials Inc. after the market closes on the same day [1] - Cisco Systems Inc. will also report earnings after the market closes next Wednesday [1] - This Friday will feature earnings from several utilities and financial companies, including Constellation Energy Corporation, KKR & Co. Inc., and Enbridge Inc. [1] Upcoming Earnings Days - Next Monday and Wednesday are anticipated to be dense earnings days, with significant clusters of reports in sectors such as real estate, technology, financials, and biotechnology [1]

Constellation Energy Corporation (CEG) came out with quarterly earnings of $3.04 per share, missing the Zacks Consensus Estimate of $3.13 per share. This compares to earnings of $2.74 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -2.88%. A quarter ago, it was expected that this company would post earnings of $1.83 per share when it actually produced earnings of $1.91, delivering a surprise of +4.37%.Over the last four quarte ...

Earnings Season Overview - The third quarter earnings season is underway, with several AI companies reporting results, including Palantir, AMD, and Supermicro [1] - As of October 31, 64% of S&P 500 companies have reported results, with analysts expecting a 10.7% increase in earnings per share for Q3, marking the fourth consecutive quarter of double-digit earnings growth, although a deceleration from the 12% growth in Q2 [2][3] Constellation Energy - Constellation Energy's stock fell nearly 6% after reporting Q3 earnings that missed expectations, with GAAP earnings per share of $2.97 compared to estimates of $3.05, although revenue of $6.57 billion exceeded the $6.46 billion estimate [5][6] - The company narrowed its full-year adjusted operating earnings guidance to a range of $9.05–$9.45 per share, down from a previous range of $8.90-$9.60 [7] - Year-to-date, Constellation Energy's stock is up 57% [8] Wendy's - Wendy's reported Q3 revenue of $549 million, a 3% decline year-over-year but above the expected $534 million, with earnings per share of $0.24 exceeding estimates of $0.20 [9][10] Block (Jack Dorsey-led) - Block's shares fell 15% after reporting Q3 earnings that missed expectations, with earnings per share of $0.54 on revenue of $6.11 billion, compared to estimates of $0.68 per share and $6.31 billion in revenue [12][17] - Square's gross profit rose 9% to $1.01 billion, while Cash App gross profit grew 24% to $1.6 billion [18] Opendoor - Opendoor reported Q3 revenue of $915 million, above expectations of $882 million, but a loss per share of $0.12 was wider than the expected $0.07 loss [20][23] - The company expects similar declines in Q4, with an adjusted EBITDA loss forecasted in the high-$40 million to mid-$50 million range [24][25] Airbnb - Airbnb's stock rose 5% as international bookings supported solid revenue growth, reporting 133.6 million nights booked, a 9% increase year-over-year [26][27] Under Armour - Under Armour reported a net loss of $0.04 per share on revenue of $1.33 billion, with net sales declining 4.7% year-over-year [28][29] - The company expects revenue to decline 4% to 5% for the full fiscal year [30][31] ConocoPhillips - ConocoPhillips reported adjusted earnings per share of $1.61, beating estimates of $1.41, and raised its fourth-quarter dividend by 8% to $0.84 per share [33][34] Moderna - Moderna reported a smaller-than-expected loss of $0.51 per share on revenue of $1 billion, a 45% decrease from the previous year, primarily due to declining COVID vaccine sales [35][36] - The company narrowed its full-year revenue guidance to a range of $1.6 billion to $2 billion [38] E.l.f. Beauty - E.l.f. Beauty's stock fell over 21% after posting a disappointing full-year outlook, expecting net sales between $1.55 billion to $1.57 billion, below expectations of $1.65 billion [40][41] Chime - Chime reported annual revenue growth of 29% in the September quarter, with revenue of $544 million, and raised its full-year forecast due to a surge in new members [44][45] Snap - Snap's stock soared over 22% after reporting a revenue beat and announcing a partnership with Perplexity AI, with revenue growing 10% year-over-year to $1.5 billion [49][51]

Core Insights - The energy company exceeded quarterly revenue expectations but did not meet adjusted earnings forecasts [1] Revenue Performance - The company reported quarterly revenue that surpassed market expectations, indicating strong sales performance [1] Earnings Analysis - Despite the revenue beat, the company's adjusted earnings fell short of forecasts, suggesting potential challenges in cost management or operational efficiency [1]

Exhibit 99.1 News Release Contact: Linsey Wisniewski Corporate Communications 667-218-7700 Emily Duncan Investor Relations 833-447-2783 CONSTELLATION REPORTS THIRD QUARTER 2025 RESULTS Earnings Release Highlights Baltimore (Nov 7, 2025) — Constellation Energy Corporation (Nasdaq: CEG) today reported its financial results for the third quarter of 2025. "We achieved one of the highest operating quarters for our nuclear fleet and advanced major milestones like our historic settlement with Maryland for continue ...

BALTIMORE--(BUSINESS WIRE)--Constellation Energy Corporation (Nasdaq: CEG) today reported its financial results for the third quarter of 2025. ...

Core Viewpoint - Constellation Energy Group (NASDAQ: CEG) is positioned to report strong earnings driven by demand for clean energy, despite a projected revenue decline due to challenges in nuclear assets and renewable expansion [2][6]. Financial Performance - The company is expected to report earnings per share (EPS) of $3.04, reflecting a year-over-year increase of 10.95% [2][6]. - Revenue is projected to decline by 6.53%, amounting to approximately $6.55 billion [2][6]. Historical Performance - CEG has shown resilience, exceeding the Zacks Consensus Estimate in three of the last four quarters, with an average earnings surprise of 4% [3]. Market Valuation - The company has a price-to-earnings (P/E) ratio of 36.66, indicating how the market values its earnings [4][6]. - The price-to-sales ratio stands at 4.42, reflecting the market's valuation of its revenue [4][6]. - The enterprise value to sales ratio is 4.67, showing the company's total value compared to its sales [4]. Financial Health - CEG has a debt-to-equity ratio of 0.62, indicating moderate debt levels [5][6]. - The current ratio is 1.48, demonstrating good liquidity to cover short-term liabilities [5][6].

Core Insights - Constellation Energy Corporation (CEG) is set to report its third-quarter 2025 earnings on November 7, with revenue expectations of $6.12 billion, reflecting a 6.53% decline year-over-year, while earnings per share are projected at $3.04, indicating a 10.95% growth compared to the previous year [1] Earnings Performance - CEG has surpassed the Zacks Consensus Estimate in three of the last four quarters, with an average earnings surprise of 4.13% [2] - The earnings surprise history shows reported earnings of $1.91, $2.14, $2.44, and $2.74 for the last four quarters, with an average surprise of 4.13% [3] Earnings Prediction Model - The current Earnings ESP for CEG is 0.00%, indicating that the model does not predict an earnings beat this time [4] Factors Influencing Q3 Performance - Strong demand from commercial customers and an expanding customer base are expected to positively impact Q3 earnings, projected to rise by 10.95% year-over-year, despite a revenue decline [5][8] - CEG's robust nuclear infrastructure is likely to support increased demand from data centers, contributing positively to revenues and earnings [8] - The ongoing expansion of CEG's renewable energy portfolio is expected to foster long-term earnings growth and positively influence Q3 results [9] Shareholder Value and Stock Performance - Ongoing share repurchases are anticipated to enhance shareholder value and positively impact earnings due to a lower number of shares outstanding [10] - CEG's stock has returned 45.6% over the past six months, outperforming the industry growth of 29.6% [13] - The stock is currently trading at a premium, with a forward 12-month price-to-earnings ratio of 31.71X compared to the industry average of 23.36X [15] Strategic Investments - CEG's investments in customer-focused energy solutions, including carbon-free and renewable energy certifications, are expected to generate favorable returns and enhance stakeholder value [17] - The company is well-positioned to capture growing demand and strengthen revenue streams through its extensive carbon-free generation fleet and comprehensive energy supply services [18] Summary - Given the solid earnings growth expectations for Q3 and stable price performance, existing investors may consider holding onto CEG stock [19]