Constellation raises guidance after delivering $7.5 billion revenue in Q2

• Constellation reported Q2 2026 revenue of $7.50 billion and adjusted operating earnings of $2.55 per share.
• GAAP earnings declined to $1.42 per share, while the shares traded 1.1% lower following the release.
• The company raised its 2026 earnings guidance as it integrates Calpine and signs additional long-term power agreements.

Constellation Energy (NASDAQ:CEG) reported Q2 2026 revenue of $7.50 billion and adjusted operating earnings of $2.55 per share.

Revenue increased from $6.10 billion, while adjusted operating earnings rose from $1.91 per share in Q2 2025.

GAAP earnings fell from $2.67 to $1.42 per share, while adjusted operating earnings totalled $920 million.

Constellation raised 2026 adjusted operating earnings guidance to $11.50–$12.50 per share.

Following the announcement, Constellation Energy's share price was down 1.1% at $265.12 in premarket trading.

During the period under review, the company signed an additional 920 megawatts of long-term power agreements and continued preparations to restart the Crane Clean Energy Center in 2027.

Constellation also agreed to sell the 606-megawatt Brazos Valley Energy Center for $860 million as part of regulatory commitments linked to the Calpine acquisition.