Constellation Q1 GAAP profit rises to $4.49 a share; 2026 guidance affirmed
Constellation Energy reported first-quarter 2026 results with GAAP net income attributable to common shareholders of $1,590 million, or $4.49 per diluted share, up from $118 million, or $0.38 per share, a year earlier. Operating revenues rose to $11,122 million from $6,788 million, and the company reaffirmed its full-year 2026 adjusted operating earnings guidance of $11.00 to $12.00 per share. The results include the Calpine acquisition, completed in January 2026, which the filing cites as a main driver of higher adjusted earnings.
Key points
- Adjusted (non-GAAP) operating earnings were $2.74 per share, up from $2.14 per share in Q1 2025 (adjusted operating earnings were $972 million versus $673 million)
- Operating revenues were $11,122 million versus $6,788 million; GAAP net income attributable to common shareholders was $1,590 million versus $118 million
- Full-year 2026 adjusted operating earnings guidance of $11.00 to $12.00 per share was affirmed, not changed
- Pin Oak Creek 460 MW natural gas facility reached commercial operation on April 30, 2026; Pastoria 105 MW solar project was commissioned on April 16, 2026
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 May 11, 2026.
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.