The Investor
09 Nov 2026, 18:45
Constellation Energy Jumps 10% as Q3 Earnings Surge and 2026 Guidance Rises
Constellation Energy (NASDAQ: CEG) shares jumped about 10% after the company reported sharply higher third-quarter earnings, raised its full-year outlook and highlighted a growing pipeline of long-term power agreements tied to nuclear generation.
Third-quarter adjusted operating earnings rose to $5.06 per share from $3.04 a year earlier, while GAAP net income increased to $5.19 per share from $2.97.
Constellation raised the midpoint and narrowed its 2026 adjusted operating earnings guidance to $12.50-$12.80 per share, marking the second increase to the midpoint this year.
Growth visibility also improved through several major agreements. The company signed a 20-year, 690 MW power purchase agreement with Amazon supporting more than $3 billion of investment at Calvert Cliffs, and a separate 20-year agreement with Google supporting more than $4.3 billion of investment to add about 890 MW of nuclear capacity to the PJM grid.
Constellation also signed a conditional DOE loan commitment for up to $5 billion to support nuclear uprates and agreed to acquire the 609 MW Rhode Island State Energy Center for $715 million.
The 10% share gain appears to reflect the combination of stronger earnings, higher guidance and increasing visibility into long-term demand from large technology customers, reinforcing Constellation’s position as a major beneficiary of rising power demand from data centers and the broader digital economy.
Constellation Energy (NASDAQ: CEG) shares jumped about 10% after the company reported sharply higher third-quarter earnings, raised its full-year outlook and highlighted a growing pipeline of long-term power agreements tied to nuclear generation.
Third-quarter adjusted operating earnings rose to $5.06 per share from $3.04 a year earlier, while GAAP net income increased to $5.19 per share from $2.97.
Constellation raised the midpoint and narrowed its 2026 adjusted operating earnings guidance to $12.50-$12.80 per share, marking the second increase to the midpoint this year.
Growth visibility also improved through several major agreements. The company signed a 20-year, 690 MW power purchase agreement with Amazon supporting more than $3 billion of investment at Calvert Cliffs, and a separate 20-year agreement with Google supporting more than $4.3 billion of investment to add about 890 MW of nuclear capacity to the PJM grid.
Constellation also signed a conditional DOE loan commitment for up to $5 billion to support nuclear uprates and agreed to acquire the 609 MW Rhode Island State Energy Center for $715 million.
The 10% share gain appears to reflect the combination of stronger earnings, higher guidance and increasing visibility into long-term demand from large technology customers, reinforcing Constellation’s position as a major beneficiary of rising power demand from data centers and the broader digital economy.
