Joe Dominguez, President and CEO of Constellation Energy, stated: "Constellation enters 2026 in a strong position, ready to meet the nation's growing demand for reliable, clean electricity. Over the past year, we welcomed Calpine into the fold – expanding our generation portfolio, enhancing our commercial platform, and strengthening our ability to serve customers across the country. With the nation's largest nuclear fleet at the core of our strategy, we are pairing the grid's most reliable power with flexible resources to meet accelerating demand driven by electrification and the data economy. Our long-term agreements with Microsoft, Meta, and most recently, CyrusOne, demonstrate how we are putting our expanded portfolio to work, while maintaining reliability and cost stability for customers."
Executive Vice President and Chief Financial Officer Sean Smith added: "Constellation delivered full-year results for the fourth consecutive year that exceeded the midpoint of our guidance range, reflecting our strong commercial execution and industry-leading nuclear fleet performance. Following the completion of the Calpine transaction, we enter 2026 with a robust financial position and flexibility to continue investing in growth and extending the life of our portfolio, while creating long-term value for shareholders. We look forward to sharing our financial outlook and strategy for 2026 and beyond with you on our March 31st call."
In the fourth quarter of 2025, Constellation Energy's GAAP net income decreased to $1.38 per share from $2.71 per share in the same period of 2024, while adjusted operating earnings decreased slightly to $2.30 per share from $2.44 per share. For the full year, 2025 GAAP net income was $7.40 per share, lower than $11.89 per share in 2024, but adjusted operating earnings increased to $9.39 per share from $8.67 per share, indicating solid operational performance.
Headquartered in Baltimore, Constellation Energy is a major producer of clean, reliable energy in the United States, with approximately 55 gigawatts of generating capacity from nuclear, natural gas, geothermal, hydropower, wind, and solar sources. The company serves approximately 2.5 million customer accounts across the nation, including three-quarters of the Fortune 100 companies, and is committed to advancing the transition to a reliable, sustainable energy future.
