CEG · Constellation Energy Corp
$254.02
-10.56 (-3.99%)
At close · Sep 30
Return incl. dividend (before tax)
Market Cap
$88.46B
Shares
354.31M
Volume · Sep 30
4.45M
Avg daily vol (3M)
2.88M
Price & Indicators
20d MA
50d MA
200d MA
Earnings
Filing
Insider
Congress
Investor day
Close$254.02
Open$261.74
Day$247.20–263.71
52W close$236.50–403.95
Avg vol 30d2.7M
Short int11.7M · 3.3% float · 4.2d
Short vol69%
Last earningsAug 6, 2026
DataJan 2022–Sep 2026
Filing10-Q · Aug 6
Up next
Next earnings call
Nov 4, 2026
Est · unconfirmed
· in 5 wks
filed Aug 6, 2026
call held Aug 6, 2026
Metrics snapshot
Useful current figures from the complete screener profile.
Revenue (TTM)
$31.27B
Trailing 12 months
Net income (TTM)
$3.45B
Trailing 12 months
Revenue growth YoY
+23.0%
Year over year
Operating margin
14.7%
Trailing 12 months
P / E (TTM)
25.8
Trailing earnings · reciprocal yield 3.9%
FCF yield
0.3%
TTM · current market cap
Return on invested capital
6.1%
Trailing 12 months
Net cash
−$18.78B
Latest balance sheet
Dividend yield
—
Trailing 12 months
Shares change YoY
+14.6%
Year over year · more shares
Price change (1Y)
-20.8%
Trailing year
Short interest
3.3%
Latest settlement · 4.2 days to cover
AI Brief
Q2 FY26 earnings call · Aug 6, 2026
Q2 FY26
TL;DR. Constellation reported Q2 GAAP EPS of $1.42 and adjusted operating EPS of $2.55 (up from $1.91 a year ago), raised full-year adjusted EPS guidance to $11.50–$12.50 from $11.00–$12.00, signed 920 MW of new long-term nuclear PPAs, and completed the final Calpine-related divestiture (Brazos Valley) for $860M; quarter was partially offset by higher planned nuclear outage days and lower Illinois ZEC revenue timing.
Bullish
- + Signed an additional 920 MW of long-term (15–20 year) nuclear PPAs with investment-grade customers, bringing contracted share of clean baseload to ~30%.
- + Year-to-date deployed ~$2.2B toward accretive share repurchases, with $2.8B remaining authorization; CFO raised 2029 capital-allocation sensitivity floor to $0.20 and upside to >$0.75 per share.
- + Updated nuclear PTC strike price assumptions raise projected 2030 base EPS by ~$0.30 per share; PTC inflation linkage continues to support double-digit base earnings growth into the 2030s.
Bearish
- − Illinois ZEC revenue recognized this quarter was only $85M of banked credits versus $200M last year (timing only, no full-year impact per the company); the Illinois ZEC program ends in May 2027.
- − ERCOT power prices and spark spreads remained weak in Q2, which the company describes as a 'soft ERCOT market' and the basis for management's expectation of weak price action in Texas this year.
From the call
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceOverall
Sell
SellHoldBuy
Technical
Strong Sell
Momentum
Very Weak
Sentiment
Neutral
Fundamentals
Strong
Quant / Vol
Very High
Market backdrop
VIX 16.3 · calm
Equity put/call 0.53
Technical
price trend
50 / 200-day cross
No cross
Price vs 200-day avg
−12%
below
Price vs 50-day avg
−7%
below
RSI (14)
39
neutral
MACD trend
Negative
52-week position
10%
near low
Volume (OBV)
Confirms
volume backs price
Momentum
relative strength
1-month return
−9%
trailing
6-month return
−9%
trailing
YTD return
−28%
this year
Relative strength
−22%
vs S&P · 6-mo
Sentiment
smart money
Trend (MA cross)
No cross
50d $272 › 200d $289 — 200d above 50d
Institutional flow
Distributing
-2% holders QoQ · +182 funds added
Insider flow
Accumulating
Net +$417.9K over 90 days · 0% sells
Short interest
Rising
3.31% of float · ▲ +1.4% MoM · 4.2 days cover
Volume signal
Reversal watch
High volume on a down day — possible exhaustion
Institution breadth
Steady
1,879 holders — mid 3-yr range
Squeeze score
56
elevated · 0–100
Fundamentals
Revenue growth
+8%
Y/Y
EPS growth
−38%
Y/Y
Free cash flow
$1.3B
Buyback
$2.8B
remaining
Balance sheet
$3.6B
net debt
Quant / Vol
risk profile
Volatility
47%
annualized · 1-yr
Max drawdown
−41%
past year
ATR
3.8%
of price · 14-day
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Latest guidance
· from the Earnings Call filed Aug 6, 2026
Adjusted operating earnings per share
· full year
Non-GAAP
$11.50 – $12.50
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Strong Sell
50 / 200-day cross
No cross
Neutral
Price vs 200-day avg
−12%
Bearish
Price vs 50-day avg
−7%
Bearish
RSI (14)
39
Neutral
MACD trend
Negative
Bearish
52-week position
10%
Bearish
Volume (OBV)
Confirms
Neutral
Market signals — smart money & positioning
Bearish · 2 of 6
Trend (MA cross)
No cross
50d $272 › 200d $289 — 200d above 50d
Institutional flow
Distributing
-2% holders QoQ · +182 funds added
Insider flow
Accumulating
Net +$417.9K over 90 days · 0% sells
Short interest
Rising
3.31% of float · ▲ +1.4% MoM · 4.2 days cover
Volume signal
Reversal watch
High volume on a down day — possible exhaustion
Institution breadth
Steady
1,879 holders — mid 3-yr range
Price context
position in its 52-week range
Range low $237
Now $254 · 10%
Range high $404
vs 200-day avg -12%
vs 50-day avg -7%
Illustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted (non-GAAP) Operating Earnings non-GAAP | $920M | Three Months Ended June 30, 2026 | — |
GAAP → non-GAAP reconciliationGAAP GAAP Net Income (Loss) Attributable to Common Shareholders $513M
+$340M Unrealized (Gain) Loss on Fair Value Adjustments (net of taxes of $116 and $37, respectively)
-$221M Decommissioning-Related Activities (net of taxes of $298 and $208, respectively)
+$149M Amortization of Acquired Commodity Contracts (net of taxes of $51 and $—, respectively)
+$84M Calpine Merger and Integration Costs (net of taxes of $17 and $3, respectively)
+$0M Plant Retirements and Divestitures (net of taxes of $— and $2, respectively)
+$20M Pension & OPEB Non-Service (Credits) Costs (net of taxes of $7 and $3, respectively)
+$35M Change in Legal and Environmental Liabilities (net of taxes of $12 and $—, respectively)
= Adjusted (non-GAAP) Operating Earnings $920M
|
|||
| Adjusted (non-GAAP) Operating Earnings per share non-GAAP | $2.55 | Three Months Ended June 30, 2026 | — |
| Adjusted Operating Earnings non-GAAP | $2.55 | Q2 2026 | — |
| Average contract duration | 18.5 | Q2 2026 | — |
| Average diluted common shares outstanding | 360M | Q2 2026 | — |
| Brazos Valley Energy Center sale price | $860M | Q2 2026 | — |
| Cumulative share repurchases since separation | $4.6B | since separation | — |
| Cumulative shares repurchased since separation | 25.5M | since separation | — |
| Equivalent Forced Outage Factor (EFOF) - natural gas, oil, and pumped-storage hydro fleet | 6.2% | second quarter of 2026 | — |
| Long-term nuclear PPAs signed | 920 | Q2 2026 | — |
| Non-refueling outage days | 20 | second quarter of 2026 | — |
| Nuclear fleet generation | 44,160 | second quarter of 2026 | — |
| Nuclear plants capacity factor (excluding Salem and STP) | 93% | second quarter of 2026 | — |
| Planned refueling outage days | 86 | second quarter of 2026 | — |
| Q2 average nuclear refueling outage duration | 23 | Q2 2026 | — |
| Renewable energy capture (wind, solar and run-of-river hydro) | 96% | second quarter of 2026 | — |
| Share repurchases deployed YTD | $2.2B | YTD 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Utilities - Independent Power Producers — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
CEG
this stock
Constellation Energy Corp
|
$88.46B | -28.1% | +8.3% | 24.3 | 3.3% |
|
VST
Vistra Corp.
|
$46.47B | -14.2% | +3.0% | 23.4 | 2.9% |
|
NRG
Nrg Energy, Inc.
|
$21.10B | -39.9% | +9.2% | 27.0 | 2.8% |
|
TLN
Talen Energy Corp
|
$14.59B | -16.6% | +22.0% | — | 5.7% |
|
OKLO
Oklo Inc.
|
$7.08B | -48.4% | — | — | 18.1% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionOwnership
Short & Settlement
Smart Money
Financials
Filings
Performance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| CEG | -3.7% | -9.4% | -9.4% | -7.6% | -28.1% |
| SPY | -0.7% | +0.1% | +12.2% | -0.6% | +11.8% |
| vs SPY | -3.1% | -9.5% | -21.5% | -7.0% | -39.9% |
Capital returns
Buyback program
· as of Aug 6, 2026
Authorized
$3.00B
Spent (derived)
$200.00M
Remaining
$2.80B
Spent
Remaining
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.
Key facts
CIK
1868275
CUSIP
21037T109
13F (30d)
28 filings
22 filers
Visit website
Investor relations