CEG · 10-Q · 2026Q3 · Full report

Share Repurchases

Constellation Energy Corp · 2026-11-09 · Importance 52 · Surprise 42 · No source text

During 2026, the Board approved a $4.4 billion increase to the share-repurchase authorization, supplementing the remaining $0.6 billion authorization. As of the filing date, approximately $2.0 billion of repurchase authority remained. In the three and nine months ended September 30, 2026, Constellation repurchased approximately 3.8 million and 10.9 million shares, respectively, for approximately $1.0 billion and $3.0 billion, inclusive of open-market repurchases and the secondary public offering. There were no open-market repurchases in the comparable 2025 periods.

Key facts

• Net cash used in financing activities was $1,654 million for the nine months ended September 30, 2026, compared with $249 million in 2025; the change primarily related to debt transactions associated with the Calpine acquisition and common stock repurchases.
• During 2026, Constellation's Board approved a $4.4 billion increase to the remaining $0.6 billion authorization under its share repurchase program.
• Constellation Energy Corp repurchased $3,001 million of common stock during the nine months ended September 30, 2026.
• As of the filing date, Constellation had approximately $2.0 billion of remaining share-repurchase authority.
• In the three and nine months ended September 30, 2026, Constellation repurchased approximately 3.8 million and 10.9 million common shares, respectively, for approximately $1.0 billion and $3.0 billion, respectively, inclusive of open-market repurchases and the secondary public offering.
• Constellation Energy Corp's merger consideration included approximately 4.5 billion dollars in cash and newly issued common shares; 2 million shares were repurchased by the Company in the June 2026 underwritten secondary offering.
• Constellation had no open-market repurchases during the three and nine months ended September 30, 2025.

Impact estimates