Constellation Energy's stock zooms toward highest level in weeks, even after outlook is postponed

By Claudia Assis

Power producer will provide 2026 guidance in March

Constellation says it has delivered full-year profit ahead of the midpoint of its guidance range for four straight years. The 2026 guidance will have to wait until March.

Constellation Energy is keeping investors waiting for its yearly guidance, saying it will provide it in March. But that hasn't dented the independent power producer's stock, which zoomed to its highest level in nearly six weeks on Tuesday, regaining some of its past luster.

Constellation's stock (CEG) rose by more than 6%, gathering steam as the trading day progressed. It ended at its highest close since Jan. 15, when it closed at $341.20, and notched its largest one-day percentage increase since Oct. 1, when it pushed past 6.6%.

Tuesday's gains also erased some of the stock's recent losses, putting the shares 18% higher than their 52-week low hit on Feb. 25. The stock is down 12% so far this year, in contrast with gains of around 1% for the S&P 500 index SPX.

Ahead of Tuesday's earnings report, Wall Street expected Constellation to update markets on its outlook for the year. The company said it will discuss that 2026 guidance on a call with investors on March 31.

Company executives highlighted Tuesday that Constellation has delivered full-year profits ahead of the midpoint of its guidance range for four straight years.

Constellation reported fourth-quarter profit and revenue that exceeded Wall Street expectations. It earned an adjusted $2.30 a share on sales of $6.1 billion, compared with the FactSet consensus for an adjusted profit of $2.25 a share on sales of $4.8 billion.

The company offered a "solid" quarterly performance, Melius Research analyst James West said in a note Tuesday.

It is the largest independent power producer in the U.S. and a major beneficiary of fast demand growth in electricity thanks to artificial-intelligence data centers and advanced manufacturing, West said. It also combines a "world-class" nuclear fleet with a growing natural-gas-generation business, he added.

Citi analysts, meanwhile, said in a note that markets could be overlooking Constellation's potential for creating further value by building new power-generation projects.

Constellation is in a position of relative strength with its land holdings in New York and Texas to develop new sources of power, with its natural-gas turbines in Maryland, and with its industry relationships, even as it says it wants to wait for market conditions to improve before it invests in those opportunities, the analysts said.

-Claudia Assis

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02-24-26 1730ET