CEG · 10-Q · 2026Q3 · Full report

Quarterly Earnings Performance

Constellation Energy Corp · 2026-11-09 · Importance 63 · Surprise 64 · In source text

GAAP net income attributable to common shareholders was $1.835 billion for the third quarter of 2026 and $3.938 billion for the first nine months. Nine-month net income increased $2.051 billion year over year, primarily reflecting Calpine operations, higher capacity revenues, lower unrealized losses on equity investments, deferred-tax adjustments, and favorable decommissioning-related activity. These favorable items were partly offset by Calpine merger and integration costs, higher interest expense from increased long-term debt, and nuclear outages. Adjusted operating earnings were $3.684 billion for the first nine months, up from $2.224 billion in 2025.

Key facts

• For the nine months ended September 30, 2026, GAAP net income attributable to common shareholders was $3,938 million, versus $1,887 million in 2025, a $2,051 million increase.
• For the three months ended September 30, 2026, GAAP net income attributable to common shareholders was $1,835 million and adjusted operating earnings were $1,792 million.
• Constellation Energy Corp reported net income attributable to common shareholders of $1,835 million for the three months ended September 30, 2026.
• Constellation Energy Corp reported basic and diluted earnings per share of $5.19 for the three months ended September 30, 2026.
• Nine-month 2026 net income was favorably affected by Calpine operations, higher capacity revenues, lower unrealized losses on equity investments, deferred-tax adjustments, and nuclear ARO updates, and offset by Calpine integration costs, higher interest expense, and nuclear outages.

Impact estimates