Constellation Energy Corporation (CEG) AI Stock Analysis

Company Guidance

Constellation raised its full-year 2026 adjusted operating earnings guidance by $0.50 to $11.50–$12.50 per share (midpoint now equals prior top end) and will revisit the outlook on the Q3 call; Q2 results were $1.42 GAAP EPS and $2.55 adjusted operating EPS (up $0.64 year-over-year). Management highlighted ~920 MW of long‑term nuclear contracts signed this quarter (average duration 18.5 years), now contracting roughly 30% of clean baseload output, and said the nuclear fleet produced 40 TWh in Q2 at a 93% capacity factor while completing six refueling outages with a 23‑day average outage duration (40% better than the industry). Capital returns and portfolio actions include ~$2.2 billion of share repurchases year‑to‑date (with ~$2.8 billion of authorization remaining), an agreed sale of Brazos Valley for $860 million (~$1,420/kW), and DOJ‑required divestitures expected to generate about $5.9 billion gross; other financial impacts noted: Q2 Illinois ZEC bank credits of $85 million (vs. $200M LY), a 2030 PTC strike price update to $50.88/MWh (vs. $49.88) adding ~ $0.30 of 2030 base EPS, and a 2029 capital‑allocation sensitivity floor of $0.20/share with upside >$0.75/share.