TLDR Constellation Energy (CEG) reported Q3 2025 adjusted operating earnings of $3.04 per share, up from $2.74 per share in Q3 2024 The company narrowed its full-year 2025 adjusted operating earnings guidance to $9.05-$9.45 per share Conowingo Dam received water quality certification from Maryland, clearing the path for re-licensing and continued operations Nuclear fleet achieved [...] The post Constellation Energy (CEG) Stock: Nuclear Performance Drives Third Quarter Earnings Growth appeared first on Blockonomi.TLDR Constellation Energy (CEG) reported Q3 2025 adjusted operating earnings of $3.04 per share, up from $2.74 per share in Q3 2024 The company narrowed its full-year 2025 adjusted operating earnings guidance to $9.05-$9.45 per share Conowingo Dam received water quality certification from Maryland, clearing the path for re-licensing and continued operations Nuclear fleet achieved [...] The post Constellation Energy (CEG) Stock: Nuclear Performance Drives Third Quarter Earnings Growth appeared first on Blockonomi.

Constellation Energy (CEG) Stock: Nuclear Performance Drives Third Quarter Earnings Growth

2025/11/07 20:26

TLDR

  • Constellation Energy (CEG) reported Q3 2025 adjusted operating earnings of $3.04 per share, up from $2.74 per share in Q3 2024
  • The company narrowed its full-year 2025 adjusted operating earnings guidance to $9.05-$9.45 per share
  • Conowingo Dam received water quality certification from Maryland, clearing the path for re-licensing and continued operations
  • Nuclear fleet achieved 96.8% capacity factor in Q3 2025, producing 46,477 gigawatt-hours
  • GAAP net income decreased to $2.97 per share from $3.82 per share year-over-year

Constellation Energy posted adjusted operating earnings of $3.04 per share for the third quarter of 2025. This marks an increase from $2.74 per share during the same period last year.

The company’s GAAP net income came in at $2.97 per share. This represents a decrease from $3.82 per share in the third quarter of 2024.

CEO Joe Dominguez said the company achieved one of the highest operating quarters for its nuclear fleet. The quarter also saw progress on key operational milestones.


CEG Stock Card
Constellation Energy Corporation, CEG

Constellation narrowed its full-year 2025 adjusted operating earnings guidance. The new range sits at $9.05 to $9.45 per share.

CFO Dan Eggers pointed to strong nuclear and commercial performance. The company continues to execute well both operationally and financially.

Nuclear Fleet Delivers Strong Output

The nuclear fleet produced 46,477 gigawatt-hours in Q3 2025. This compares to 45,510 gigawatt-hours in the third quarter of 2024.

The nuclear plants achieved a 96.8% capacity factor for the quarter. This improved from 95.0% during the same period last year.

Planned refueling outage days totaled 23 in Q3 2025. The company had 37 planned refueling outage days in Q3 2024.

Non-refueling outage days dropped to five in the third quarter. This compares to 20 non-refueling outage days in the prior year period.

The improved performance reflects better operational efficiency. Fewer outage days allowed for higher production levels.

Conowingo Dam Settlement Reached

Constellation reached a settlement agreement with the Maryland Department of the Environment in September 2025. The agreement also included Lower Susquehanna Riverkeeper Association and Waterkeepers Chesapeake.

The Maryland Department of the Environment issued a water quality certification. This clears the path for re-licensing and continued operation of the Conowingo hydroelectric facility.

The settlement terms include operational improvements. The company committed to water quality and resiliency enhancements.

Additional commitments cover trash and debris removal. The agreement also addresses aquatic life passage and freshwater mussel restoration.

Dredging and invasive species management round out the settlement terms. These measures resolve all outstanding issues related to the water quality certification.

The natural gas and pumped storage fleet posted a 95.5% dispatch match rate in Q3 2025. This compared to 98.2% in the third quarter of 2024.

Renewable energy capture for wind, solar and run-of-river hydro reached 96.8%. This improved from 96.0% in the prior year quarter.

The company is preparing for the close of its Calpine transaction. Management expressed excitement about combining the capabilities of both companies.

The post Constellation Energy (CEG) Stock: Nuclear Performance Drives Third Quarter Earnings Growth appeared first on Blockonomi.

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