NASDAQ$CEG
Constellation Energy Corp · Q4 2024 earnings
Q4 2024 earnings · · Before market open · Investor relations
Briefing
Constellation Energy reported strong operational and financial performance, exceeding guidance and advancing strategic initiatives.
Constellation Energy reported a GAAP Net Income of $2.71 per share and Adjusted (non-GAAP) Operating Earnings of $2.44 per share for Q4 2024. The company affirmed its full-year 2025 Adjusted (non-GAAP) Operating Earnings guidance range of $8.90 - $9.60 per share. They also entered a definitive agreement to acquire Calpine Corporation.
- GAAP Net Income was $2.71 per share, and Adjusted (non-GAAP) Operating Earnings were $2.44 per share for Q4 2024.
- Affirmed full-year 2025 Adjusted (non-GAAP) Operating Earnings guidance range of $8.90 - $9.60 per share.
- Entered a definitive agreement to acquire Calpine Corporation, combining clean energy production with reliable natural gas assets.
- Completed $1 billion of share repurchases, with a total of $2 billion repurchased since 2023 and $1 billion authorization remaining.
Headline financials
Revenue & EPS history
Constellation Energy · Revenue · Quarterly
$5.38B
Forward guidance
Constellation Energy affirmed its 2025 adjusted operating earnings guidance range at $8.90-9.60 per share and will invest over $2.5 billion in 2025 to reliably operate the business for the long-term and fund growth investments.
Tailwinds
- Affirming 2025 Adjusted (non-GAAP) Operating Earnings guidance range of $8.90 - $9.60 per share.
- The acquisition of Calpine will create new capabilities that will increase product offerings across America.
- Constellation will invest over $2.5 billion in 2025 to reliably operate the business for the long-term.
- The company's strong balance sheet and industry leading generation and commercial businesses backstop future performance.
- The company expects to grow the dividend per share by another 10% in 2025.
Headwinds
- Forward-looking statements are subject to risks and uncertainties.
- Projections require inherent uncertainty in projecting gains and losses associated with fair value adjustments required by GAAP.
- Adjustments include future changes in fair value impacting derivative instruments.
- Adjustments also include debt and equity securities held within nuclear decommissioning trusts.
- The proposed transaction with Calpine is subject to regulatory approvals and other closing conditions.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 17 quarterly earnings reports · overlaid with Q4 2024
+3.7%
Avg return
Earnings day
+3.6%
Avg return
5 days after
+1.6%
Avg return
30 days after
71%
12 / 17 earnings
Positive
+28.2%
Q4 2023
Best reaction
-9.4%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.4% | -12.0% | -20.3% | |
| Q4 2025 | +3.5% | +12.3% | +0.5% | |
| Q3 2025 | +2.0% | +0.8% | +2.4% | |
| Q2 2025 | -0.6% | +0.0% | -10.9% | |
| Q1 2025 | +10.3% | +9.3% | +16.8% | |
| Q4 2024 | +2.6% | -10.4% | -30.8% | |
| Q3 2024 | -9.4% | -7.3% | -1.5% | |
| Q2 2024 | +5.7% | +11.7% | +3.6% | |
| Q1 2024 | +3.3% | +4.7% | -4.8% | |
| Q4 2023 | +28.2% | +27.6% | +38.8% | |
| Q3 2023 | +2.4% | +4.0% | -3.8% | |
| Q2 2023 | +8.8% | +9.7% | +12.3% | |
| Q1 2023 | +3.9% | +3.2% | +14.4% | |
| Q4 2022 | -1.7% | -6.6% | -10.7% | |
| Q3 2022 | -6.6% | -1.3% | -2.2% | |
| Q2 2022 | +10.6% | +12.7% | +20.7% | |
| Q1 2022 | +0.9% | +2.6% | +3.0% | |
| Q4 2019 | — | — | — | |
| Q4 2018 | — | — | — | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — |
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