Constellation Energy Corp. (NASDAQ:CEG) shares traded lower Monday. The company reported stronger-than-expected first-quarter fiscal 2026 results and reaffirmed its full-year earnings outlook.

Strong Q1 Earnings Beat Expectations

The U.S. power company reported revenue of $11.122 billion, topping Wall Street estimates of $8.721 billion. Adjusted earnings rose to $2.74 per share from $2.14 a year earlier and exceeded analyst expectations of $2.57 per share.

A Reuters report said Constellation Energy beat Wall Street's first-quarter adjusted profit estimates, driven by stronger U.S. electricity demand and contributions from its recently acquired Calpine assets.

The report also noted that U.S. power consumption reached a record high for the second straight year in 2025 and is expected to keep rising in 2026 and 2027, according to the Energy Information Administration.

Constellation said adjusted earnings benefited from the inclusion of Calpine, favorable stock-based compensation impacts, nuclear production tax credits, and supportive market and portfolio conditions, the company stated.

Nuclear Fleet Performance Remains Solid

The company's nuclear fleet generated 44,666 gigawatt-hours during the quarter, compared with 45,582 gigawatt-hours in the prior-year period. Excluding Salem and STP, nuclear fleet capacity reached 92.3%.

The company said the quarter included 99 planned refueling outage days and no non-refueling outage days.

Constellation Energy Dividend Announcement

Constellation had previously declared a quarterly dividend of 42.65 cents per share on April 28, payable June 5, 2026, to shareholders of record as of May 15, 2026.

Full-Year 2026 Outlook Reaffirmed

Constellation reaffirmed its full-year 2026 adjusted earnings guidance in the range of $11.00 to $12.00 per share. Analysts currently expect earnings of $11.49 per share for the year.

Constellation Energy Stock Performance

CEG Price Action: Constellation Energy shares were down 3.23% at $293.81 at the time of publication on Monday, according to Benzinga Pro data.

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