U.S. nuclear power plant operator Constellation Energy Corp (CEG.US) reported second-quarter results that exceeded market expectations, driven by rising electricity demand and lower interest expenses.

The company's Q2 revenue increased 11.4% year-over-year to $6.101 billion, significantly surpassing market expectations of $4.875 billion. Adjusted earnings per share came in at $1.91, beating market expectations of $1.82, compared to $1.68 in the same period last year. The company's second-quarter interest expenses decreased from $142 million to $118 million.

Strong artificial intelligence demand has sparked a wave of data center construction across the United States, dramatically boosting electricity demand. According to the U.S. Energy Information Administration (EIA), power consumption in 2025 and 2026 is expected to reach record highs, driven by surging AI data center demand.

Constellation Energy Corp Chief Executive Officer Joe Dominguez stated that the company is actively responding to the need to "provide power for American households and businesses, artificial intelligence, electric vehicles, and industrial growth."

"We are adding megawatts to the grid by extending the life of existing units and launching a new AI-powered demand response tool to help businesses reduce energy usage during peak periods," Dominguez said.

The company added that PJM Interconnection, the wholesale electricity dispatch organization for parts of the eastern region, has approved nearly 1.1 gigawatts of new generation capacity.

Constellation Energy Corp reported that it repurchased approximately $400 million worth of common stock during the second quarter. Additionally, the company reaffirmed its expectation for 2025 adjusted earnings per share of $8.90-9.60, with the midpoint of the range essentially in line with market expectations.

The company expects the Three Mile Island nuclear plant (now known as the Crane Clean Energy Center) to return to operation in 2027.