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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Constellation Energy
Constellation Energy (CEG) investor relations material
Constellation Energy Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary9 Nov, 2026
Executive summary
Q3 GAAP EPS was $5.19 and adjusted operating EPS was $5.06, up from $2.97 and $3.04, respectively, in Q3 2025; FY26 adjusted EPS guidance rose to $12.50–$12.80.
More than 8,500 MW of long-term agreements were signed year to date, supporting earnings visibility and fleet growth.
Strong summer nuclear reliability and Calpine's contribution supported results; agreements and planned uprates advance nuclear growth.
Financial highlights
Q3 revenue was $9.550B, up 45.4% year over year; net income attributable to common shareholders was $1.835B versus $930M.
Q3 adjusted operating earnings were $1.792B, or $5.06/share, versus $952M, or $3.04/share, in Q3 2025.
9M revenue was $28.176B and net income was $3.938B; adjusted operating earnings were $3.684B, or $10.34/share.
Earnings benefited from Calpine, commercial performance and higher capacity revenue; lower PTC revenue, higher O&M and interest costs partly offset gains.
Outlook and guidance
FY26 adjusted operating EPS guidance increased from $12.00–$12.50 to $12.50–$12.80, with a $12.65 midpoint.
Base EPS is projected to grow 20%+ from 2026 through 2029; the long-term rolling three-year Base EPS growth target is 10%+.
1,165 MW of nuclear uprates are planned at an estimated $4.3B cost; nearly all are expected in 2029–2032, with the first Google-supported uprate expected in 2028.
Crane restart remains on track for H2 2027, a year ahead of schedule; more than 2,000 MW of potential additional nuclear capacity is supported by DOE project financing.
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Latest events from Constellation Energy
- Q2 2026 Adjusted EPS rose to $2.55, with revenues up 23% and guidance increased.CEG
Q2 2026 - Q1 2026 earnings and revenue surged on Calpine integration, with guidance and growth outlook reaffirmed.CEGQ1 2026
- Financial strength, strategic growth, and governance changes defined the annual meeting.CEGAGM 2026
- 2026 outlook: $11–$12 EPS, 20%+ growth, $5B buyback, and strong dividend and credit metrics.CEGGuidance
- Alan Armstrong resigned from the board and is no longer a director nominee for 2026.CEGProxy filing
- Record TSR, Calpine integration, and robust governance mark a transformative year.CEGProxy filing
- Annual meeting covers director elections, executive pay, auditor ratification, and a DEI proposal.CEGProxy filing
- 2026 adjusted operating earnings guidance is $11.00–$12.00 per share, with 20%+ EPS growth outlook.CEGQ4 2025
- Q3 earnings and guidance surged on strong nuclear results and a landmark Microsoft clean energy deal.CEGQ3 2024
Next Constellation Energy earnings date
Q4 202625 Feb, 2027
Constellation Energy
Next Constellation Energy earnings date
Q4 202625 Feb, 2027
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Frequently asked questions
Constellation Energy Corporation is an energy company focused on providing clean energy solutions across the United States. The company generates electricity through a diverse portfolio of assets, including nuclear, wind, solar, and natural gas facilities. Constellation also offers energy management and sustainability services, supporting residential, commercial, and industrial customers in managing energy consumption and reducing environmental impact. The company is headquartered in Baltimore, Maryland, and its shares are listed on the NASDAQ.