Constellation Energy Corporation - CEG STOCK NEWS

Constellation (Nasdaq: CEG), the nation's largest producer of emissions-free energy, announced changes to its board of directors. Peter Oppenheimer and Eileen Paterson will join the board effective December 16, 2024, while Laurie Brlas will retire on December 31.

Oppenheimer, currently serving on Goldman Sachs' board and former Apple CFO (2004-2014), brings significant financial expertise. Paterson, former CEO of Aerojet Rocketdyne and U.S. Army veteran, serves on boards of Marathon Petroleum and Woodward, Inc., contributing operational and leadership experience.

Brlas concludes her tenure after providing 16 years of financial leadership experience and chairing Constellation's Audit & Risk Committee since its inception following the 2022 spinoff.

Constellation Energy reported strong Q3 2024 results with GAAP Net Income of $3.82 per share and Adjusted Operating Earnings of $2.74 per share, up from $2.13 in Q3 2023. The company raised its full-year 2024 guidance to $8.00-$8.40 per share. A significant highlight includes signing a 20-year power purchase agreement with Microsoft to support the Crane Clean Energy Center, requiring approximately $1.6 billion in capital expenditures with an estimated 2028 in-service date. The nuclear fleet produced 45,510 GWhs in Q3 2024, achieving a 95.0% capacity factor, while maintaining strong operational performance across its generation portfolio.

Constellation Energy (Nasdaq: CEG) has declared a quarterly dividend of $0.3525 per share, payable on Dec. 6, 2024, to shareholders of record as of Nov. 15, 2024. The company is the nation's largest producer of clean, emissions-free energy, with annual output that is nearly 90% carbon-free. Their facilities, including hydro, wind, solar, and nuclear, can power approximately 16 million homes, providing about 10% of the nation's clean energy. Constellation aims to achieve 100% carbon-free generation by 2040.

Constellation (Nasdaq: CEG), the largest producer of emissions-free energy in the US, has announced a $1 million grant funding initiative through the Constellation Foundation. This initiative, known as the Constellation Leading Environmental Accelerators Network (CLEAN) Awards, will support 35 conservation projects across five states: Illinois, Maryland, New York, Pennsylvania, and Texas.

The grants, ranging from $5,000 to $125,000, have been awarded to 25 nonprofits for projects focusing on combating the climate crisis, protecting ecosystems, and advancing sustainability. These projects include installing living shorelines, restoring native habitats, advancing environmental education, and supporting an aquatic recovery center for reptiles and amphibians.

Notable recipients include the Chesapeake Bay Trust, which will manage grants for four organizations in Southern Maryland, and the American Chestnut Land Trust, which will work on establishing the Southern Maryland Woodlands National Wildlife Refuge. In total, the Constellation Foundation has awarded $2.3 million in 2024 to support community organizations focused on workforce development, environmental stewardship, and clean energy education.

Constellation (Nasdaq: CEG) has announced a 20-year power purchase agreement with Microsoft, paving the way for the launch of the Crane Clean Energy Center (CCEC) and the restart of Three Mile Island Unit 1. The agreement will restore approximately 835 megawatts of carbon-free energy to the grid, create 3,400 direct and indirect jobs, and deliver over $3 billion in state and federal taxes.

The CCEC, named after former CEO Chris Crane, is expected to be online in 2028. Constellation will make significant investments to restore the plant and seek license renewal to extend operations until at least 2054. The project has strong public support in Pennsylvania and is expected to add $16 billion to the state's GDP. Constellation has also committed an additional $1 million in philanthropic giving to the region over the next five years.

Constellation Energy (Nasdaq: CEG) demonstrated exceptional performance during the summer months, with its fleet of 21 nuclear reactors operating at a 98.1% capacity factor. This high efficiency allowed the company to provide carbon-free electricity to nearly 15 million homes and businesses during intense heatwaves and extreme weather conditions. The company's proactive approach included comprehensive spring maintenance and technology upgrades to ensure uninterrupted operation during peak demand periods.

Constellation's nuclear fleet spans across the Midwest, Mid-Atlantic, and Northeast, with facilities in Maryland, Pennsylvania, New York, and Illinois. The company is committed to clean energy production, with 90% of its annual output being carbon-free. Constellation aims to achieve 100% carbon-free generation by 2040, aligning with its goal to accelerate the nation's transition to a sustainable energy future.

Constellation Energy (Nasdaq: CEG) reported strong Q2 2024 results, with GAAP Net Income of $2.58 per share and Adjusted Operating Earnings of $1.68 per share. The company raised its full-year 2024 Adjusted Operating Earnings guidance to $7.60-$8.40 per share. Constellation repurchased $500 million of common stock in Q2, bringing total repurchases to $2.0 billion since 2023. The company's nuclear fleet performed exceptionally well during a record-hot summer, with a 95.4% capacity factor. Constellation was certified as a Great Place to Work® for the second consecutive year and released its 2024 Sustainability Report.

Constellation (Nasdaq: CEG) has opened applications for its 2024 E2 Energy to Educate grant program, offering funding for student projects focused on energy innovation. Grants of up to $25,000 are available for grades 6-12, and up to $50,000 for college students. The application deadline is October 1, 2024.

The program has provided nearly $6 million to date, reaching almost 300,000 students nationwide. In 2023, it granted over $500,000 across 24 projects, impacting nearly 25,000 students in 12 states. Projects must align with themes of Access in Energy, Sustainability Amidst Growing Energy Needs, and Nuclear Technology & Clean Energy. Grant recipients will be announced in November during American Education Week.

Constellation Energy (Nasdaq: CEG) has declared a quarterly dividend of $0.3525 per share on its common stock. The dividend is payable on Sept. 6, 2024, to shareholders of record as of 5 p.m. Eastern time on Aug. 12, 2024. Constellation, a Fortune 200 company based in Baltimore, is the largest producer of clean, carbon-free energy in the United States. With 90% carbon-free annual output, the company's hydro, wind, solar, and nuclear facilities have the capacity to power 16 million homes, providing about 10% of the nation's clean energy. Constellation aims to achieve 100% carbon-free generation by 2040 and is investing in emerging technologies to eliminate carbon emissions across all economic sectors.