Constellation Energy Corporation Q3 2026 Earnings Recap

Constellation beat with third-quarter adjusted operating earnings of $5.06 per share and raised full-year guidance to $12.50–$12.80 per share; shares rose 10.5% after earnings. The company also announced long-term nuclear agreements that extend earnings visibility and support planned new capacity.

Key Takeaways

• Third-quarter earnings were $5.19 per share on a GAAP basis and $5.06 per share on an adjusted operating basis.
• Full-year adjusted operating earnings guidance was raised and narrowed to $12.50–$12.80 per share; the low end equals the high end of the prior range.
• Constellation said it had contracted more than 8,500 megawatts year-to-date under agreements extending into the 2040s, including deals supporting existing plants and new nuclear capacity.
• Three additional long-term agreements signed since the prior quarter total about 4,560 megawatts, including roughly 1,100 megawatts for new capacity through uprates.
• The nuclear fleet’s capacity factor exceeded 99% across the summer months, when PJM set peak-load records.