CEG · 10-Q · 2026Q2 · Full report

Operating Income and Margins

Constellation Energy Corp · 2026-08-06 · Importance 69 · Surprise 64 · In source text

Operating income increased 107.7% year over year to $2,912 million for the second quarter of 2026 from $1,402 million, and six-month operating income increased to $3,025 million from $1,424 million. Second-quarter operating margin expanded to approximately 38.8% from 23.0%, while six-month operating margin increased to approximately 16.2% from 11.0%. Operating expenses rose 34.5% year over year in the second quarter to $6,926 million from $5,150 million, but revenue growth outpaced the increase. Purchased power and fuel rose to $4,023 million from $3,132 million, and operating and maintenance expense rose to $2,253 million from $1,617 million, reflecting the enlarged business following the Calpine acquisition and higher operating activity.

Key facts

• Operating income for the three months ended June 30, 2026 was $2,912 million. source
• Net income for the six months ended June 30, 2026 was $2,111 million (Consolidated). source
• Basic earnings per average common share for the period shown was $1.42 (basic) and $1.42 (diluted) for the three months (as reported in the earnings per share lines). source
• Executive overview: Constellation has 55 gigawatts of capacity and powers the equivalent of 27 million homes and provides about 10% of the nation’s clean energy and serves approximately 2.5 million customer accounts nationwide, including 80% of the Fortune 100. source

Impact estimates