Constellation Energy reports Q4 GAAP EPS 10c, consensus $1.23

Reports Q4 GAAP revenue $7.33B, consensus $3.28B. "We had an incredible first year that exceeded expectations as we adapted to rapidly evolving market conditions, successfully advocated for clean energy policies and positioned the company for sustainable, long-term growth," said CEO Joe Dominguez. "…The unique reliability and resiliency of our nuclear fleet was driven home yet again during Winter Storm Elliott, when our operated fleet performed at 100%, helping to prevent rolling blackouts on Christmas Eve as fossil generation in our nation’s largest electric grid failed. Nuclear’s value to the grid was also proven in the 2014 polar vortex and again in 2021 during Winter Storm Uri, and it’s only going to increase in the years ahead as we invest to extend the lives of our nuclear plants, increase their output and utilize their carbon-free energy to power the dirtiest parts of our economy with clean hydrogen…" "Our strong financial position allows us to return exceptional value to shareholders by doubling our dividend and authorizing a $1B share repurchase program, while still leaving us the flexibility to build a new, clean hydrogen business and reserve $2B in unallocated capital to invest in other organic and inorganic growth as opportunities arise, or return additional capital to shareholders," said CFO Dan Eggers. "..For the year, we delivered $2.667B in adjusted EBITDA, which exceeded the top of our range, and we are introducing 2023 adjusted EBITDA guidance of $2.9B to $3.3B."