Press release
Constellation Reports First Quarter 2022 Results
Earnings Release Highlights GAAP Net Income of $106 million and Adjusted EBITDA (non-GAAP) of $866 million for the first quarter of 2022 Reaffirming guidance
About this update from Exelon Corporation
[{"type":"text","content":"\nEarnings Release Highlights\n\n\nGAAP Net Income of $106 million and Adjusted EBITDA (non-GAAP) of $866 million for the first quarter of 2022\n\n\nReaffirming guidance range for full year 2022 Adjusted EBITDA (non-GAAP) from $2,350 million - $2,750 million\n\n\nCompleted separation from Exelon Corporation and launched as a standalone, publicly traded company on Feb. 1, 2022\n\n\nExecuted on nearly $2.5 billion in planned debt reduction through May 12, 2022, including over $1 billion in long-term debt, a $258 million intercompany loan due to Exelon Corporation, and nearly $1.2 billion in term loans\n\n\nAnnounced sustainability partnership with Microsoft on the development of a 24/7/365 real-time carbon-free energy matching solution that will allow customers to fully achieve their zero emission goals\n\n\nAnnounced agreements with Sheetz and Comcast to procure carbon-free energy and reduce their carbon footprints through Constellation’s CORe retail power product\n\n\n BALTIMORE--(BUSINESS WIRE)--\nConstellation Energy Corporation (Nasdaq: CEG) today reported its financial results for the first quarter of 2022.\n\n“We’ve made strong financial and operational progress since our launch as a standalone company and are focused on our mission of accelerating the transition to a carbon-free future,” said Joseph Dominguez, president and CEO of Constellation. “Our nuclear and renewable fleet performed at industry-leading levels, producing enough carbon-free energy to avoid 30.2 million metric tons of carbon dioxide during the quarter, and we continue to partner with customers to help them achieve their sustainability goals. Going forward, we are reimagining our nuclear sites as clean energy centers that can do even more to help solve the climate crisis, by producing clean hydrogen, removing carbon from the air and providing a 24/7/365 real-time carbon-free energy matching solution for customers.”\n\n“We delivered strong financial results during the quarter, earning $866 million in adjusted EBITDA (non-GAAP) and reaffirming our full-year, adjusted EBITDA (non-GAAP) guidance of $2.35 billion to $2.75 billion,” said Daniel Eggers, chief financial officer of Constellation. “Our commercial operations won new business and captured value as energy prices increased. Year-to-date, we took steps to further strengthen our balance sheet with the ac...