Press release
Constellation Reports Fourth Quarter and Full Year 2022 Results and Initiates 2023 Financial Outlook
Earnings Release Highlights GAAP Net Income of $34 million and Adjusted EBITDA (non-GAAP) of $605 million for the fourth quarter of 2022. GAAP Net Loss of
About this update from Exelon Corporation
[{"type":"text","content":"\nEarnings Release Highlights\n\n\nGAAP Net Income of $34 million and Adjusted EBITDA (non-GAAP) of $605 million for the fourth quarter of 2022. GAAP Net Loss of ($160) million and Adjusted EBITDA (non-GAAP) of $2,667 million for the full year 2022.\n\n\nIntroducing 2023 Adjusted EBITDA (non-GAAP) guidance range of $2,900 million to $3,300 million\n\n\nAnnouncing initial capital allocation strategy focused on supporting and growing our business and returning capital to shareholders. It includes $1.5 billion in organic growth capital that will exceed our double-digit return threshold, doubling the per share dividend from the 2022 level and targeting growth at 10% thereafter, and authorizing $1 billion in share repurchases\n\n\nDuring Winter Storm Elliott, from December 23 through December 25, our always-on nuclear fleet provided reliable power to homes and businesses as record-setting low temperatures blanketed the PJM region and a significant portion of fossil-fueled generators failed to perform\n\n\nOur best-in-class nuclear fleet operated at a capacity factor of 95.4% for the fourth quarter of 2022 and 94.8% for the full year 2022, marking more than a decade as the industry leader among major nuclear operators\n\n\nCelebrated our first anniversary by launching a $1 million workforce development program aimed at fostering change in underserved communities\n\n\n BALTIMORE--(BUSINESS WIRE)--\nConstellation Energy Corporation (Nasdaq: CEG) today reported its financial results for the fourth quarter and full year 2022.\n\n“We had an incredible first year that exceeded expectations as we adapted to rapidly evolving market conditions, successfully advocated for clean energy policies and positioned the company for sustainable, long-term growth,” said Joe Dominguez, president and CEO of Constellation. “I want to emphasize that there is no commodity more valuable to our economy, national security and way of life than energy that is carbon-free, affordable and always there when you need it, and no U.S. company produces more of it than we do. The unique reliability and resiliency of our nuclear fleet was driven home yet again during Winter Storm Elliott, when our operated fleet performed at 100 percent, helping to prevent rolling blackouts on Christmas Eve as fossil generation in our nation’s largest electric grid failed. Nuclear’s value ...