NASDAQUtilitiesUtilities - Independent Power ProducersSnapshot 2026-07-07
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Track CEG free→Constellation Energy is growing earnings with EPS guidance of $11.00 to $12.00 for 2026. The company is integrating Calpine well, raising operating income from $451M to $2.33B in one year. It is expanding renewable energy projects with long-term nuclear deals. These support steady revenue growth and durable profits.
The recent sharp selloff and guidance cut show risks to earnings growth. The sector faces headwinds and the company’s profit margins could weaken. If integration or renewable expansion slows, growth may stall.
The price is about 1% above our fair value near $244, reflecting roughly 13% revenue growth expected by analysts. Our fair value is 32% below the Street median, indicating more cautious estimates than consensus.
Breaks if: Operating income from integration falls below $2.33B in Q1 2026
Focus on integrating Calpine to enhance operational efficiency and expand capacity.
Stated in 3 of last 3 quarters. Operating income increased from $451M in 2025-Q1 to $2,332M in 2026-Q1, reflecting the integration of Calpine. The trajectory shows delivering on integration with significant operational income growth.
Standing thesis, reviewed periodically — not a price target or advice.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
“CEO: 'Our focus is on execution – operating at a high level, integrating two great companies.'”
“CEO: 'We completed our acquisition of Calpine Corporation, creating the nation's largest producer of electricity.'”
“CEO: 'We are on track to complete the acquisition of Calpine by early 2026.'”
Breaks if: EPS falls below $11.0 in FY26
Maintain and affirm the full-year 2026 EPS guidance of $11.00 - $12.00 per share.
Stated in 2 of last 2 quarters. EPS guidance for 2026 is set at $11.00 - $12.00 per share. The company reported a diluted EPS of $4.49 in 2026-Q1, up from $0.38 in 2025-Q1, indicating strong earnings growth. The trajectory aligns with the affirmed guidance.
“CFO: 'We are affirming our full-year guidance and the expectation of strong, visible cash flow.'”
“CFO: '2026 guidance will be discussed during our upcoming Business and Earnings Outlook call.'”
Breaks if: Renewable energy project expansion stalls or reverses in next 4 quarters
Continue to expand renewable energy projects to meet growing demand and sustainability goals.
