Constellation Q3 adjusted EPS rises to $3.04; GAAP EPS falls to $2.97
Constellation reported third quarter 2025 results on November 7, 2025, with adjusted operating earnings of $3.04 per share, up from $2.74 a year earlier, while GAAP net income fell to $2.97 per share from $3.82. The company narrowed its full-year 2025 adjusted operating earnings guidance to $9.05 to $9.45 per share, and the results are reported as the company prepares to close its proposed Calpine transaction.
Key points
- Q3 2025 operating revenues were $6.57 billion, compared with $6.55 billion in Q3 2024.
- GAAP net income attributable to common shareholders was $930 million, or $2.97 per diluted share, versus $1.2 billion, or $3.82 per share, a year earlier.
- Full-year 2025 adjusted operating earnings guidance was narrowed to $9.05 to $9.45 per share.
- In September 2025, a settlement with Maryland regulators cleared a water quality certification for re-licensing the Conowingo Dam hydroelectric facility.
The filing
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 November 07, 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.