US electricity producer Constellation Energy reported higher third-quarter profit, with adjusted operating earnings reaching 5.06 dollars per share. Net income attributable to common shareholders rose to 1.835 billion dollars. Calpine’s inclusion changed the scope of the annual comparison. The company narrowed its annual adjusted earnings forecast and reported slightly higher nuclear generation.
US electricity producer Constellation Energy reported third-quarter adjusted operating earnings of 5.06 dollars per share, up from 3.04 dollars a year earlier. Earnings under US accounting standards rose from 2.97 dollars to 5.19 dollars per share. Net income attributable to common shareholders increased from 930 million dollars to 1.835 billion dollars. Adjusted earnings reached 1.792 billion dollars, against 952 million dollars.[1], [2]
Calpine, acquired in January, is included in this year’s figures, changing the operating scope of the annual comparison. Diluted weighted-average shares increased from 313 million to 354 million. Management cited favorable portfolio and market conditions, partly offset by interest expenses and production tax credit effects. The company narrowed its annual adjusted operating earnings outlook to 12.50–12.80 dollars per share.[1]
Quarterly nuclear generation rose from 46,477 gigawatt-hours to 46,677 gigawatt-hours. The capacity factor increased from 96.8 per cent to 97.2 per cent, excluding Salem and South Texas Project. Planned refueling outage days declined from 23 to 20. Constellation also agreed to buy the 609-megawatt Rhode Island State Energy Center from Shell for stated cash consideration of 715 million dollars, subject to required approvals.[1]
