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AI brief of an SEC Form 8-K · Constellation Energy (CEG)

Constellation Q1 adjusted EPS rises to $2.14; GAAP EPS falls to $0.38

Mixed Impact 3 of 5 earnings Written later

Constellation Energy reported first-quarter 2025 results on May 6, 2025. Adjusted (non-GAAP) operating earnings rose to $2.14 per share from $1.82 a year earlier, while GAAP net income fell to $0.38 per share from $2.78, mainly due to a $505 million after-tax unrealized loss on fair value adjustments. The company reaffirmed its 2025 adjusted operating earnings guidance of $8.90 to $9.60 per share and said the Calpine acquisition is on track to close in the fourth quarter of 2025.

Key points

  • Adjusted operating earnings of $2.14 per share vs. $1.82 in Q1 2024; GAAP net income of $0.38 per share vs. $2.78 in Q1 2024
  • Operating revenues of $6,788 million vs. $6,161 million in Q1 2024; GAAP net income attributable to common shareholders of $118 million vs. $883 million
  • 2025 adjusted operating earnings guidance reaffirmed at $8.90 to $9.60 per share
  • Calpine acquisition definitive agreement expected to close in the 4th quarter of 2025

The filing

CompanyConstellation Energy (CEG)
Form8-K, current report
Filed with the SECMay 6, 2025, 6:50 AM ET
Accession number0001868275-25-000040

Items reported: 2.02 Results of Operations7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:21 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 06, 2025.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.