Press release
Constellation Reports Second Quarter 2023 Results
Earnings Release Highlights GAAP Net Income of $833 million and Adjusted EBITDA (non-GAAP) of $1,031 million for the second quarter of 2023 Raising guidance
About this update from Constellation Energy Corporation
[{"type":"text","content":"\n Earnings Release Highlights\n\n\n\nGAAP Net Income of $833 million and Adjusted EBITDA (non-GAAP) of $1,031 million for the second quarter of 2023\n\n\n\nRaising guidance range for full year 2023 Adjusted EBITDA (non-GAAP) to $3,300 million to $3,700 million\n\n\n\nDelivering on our commitment to shareholders – announced acquisition of NRG’s 44% stake in South Texas Project Electric Generating Station (STP); commenced project to repower our Criterion wind facility; and repurchased over $250 million of shares in the second quarter, now having completed half of our $1.0 billion share repurchase program\n\n\n\nMoody’s raised outlook on credit ratings from stable to positive, reflecting continued strength in the balance sheet\n\n\n\nReached landmark agreement with Microsoft that will allow Microsoft to track power usage using Constellation’s hourly carbon-free energy (CFE) matching platform\n\n\n\nExhibiting role as a leader in the clean energy transition by setting an industry record for blending hydrogen with natural gas at our Hillabee Generating Station\n\n\n\n BALTIMORE--(BUSINESS WIRE)--\nConstellation Energy Corporation (Nasdaq: CEG) today reported its financial results for the second quarter of 2023.\n\n\n“Constellation continues to deliver strong operational and financial performance across the business, while giving customers the visibility and certainty they need to manage energy costs during a time of market volatility and creating value for our shareholders,” said Joe Dominguez, president and CEO, Constellation. “During a summer of record-setting heat, our nuclear fleet continues to deliver clean, reliable and affordable electricity to the communities we serve in every hour of every day of the year, making it an essential tool in meeting our customers’ carbon reduction goals. In a first for our industry, we recently signed a landmark agreement with Microsoft to provide one of its data centers with environmental attributes from nuclear energy as part of a strategy to power its operations with clean energy around the clock, demonstrating the unique value of nuclear as a sustainable climate solution.”\n\n\n“We earned in excess of $1 billion in adjusted EBITDA in the second quarter, marking a significant increase year-over-year,” said Dan Eggers, executive vice president and chief financial officer. “Our commercial team ...