CONSTELLATION ENERGY CORP - CEG STOCK NEWS

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.

Constellation (Nasdaq: CEG), the largest producer of carbon-free energy in the U.S., has published its 2024 Sustainability Report. The report emphasizes the company's strategy to accelerate the transition to a carbon-free energy future, support community sustainability goals, and invest in nuclear and renewable energy. Key achievements include producing 178 TWh of clean electricity in 2023, avoiding 125 million metric tons of carbon emissions, and maintaining a 94.4% nuclear fleet capacity factor. Constellation plans to invest $800 million in new equipment for its Illinois nuclear centers, adding 158 MW of clean energy capacity. Additional highlights include acquiring a stake in the South Texas Electric Generating Station, upgrading the Criterion wind project, and spending over $521 million with diverse suppliers. The report also details significant charitable contributions and workforce development initiatives.

Constellation Energy (Nasdaq: CEG) reported GAAP Net Income of $2.78 per share and Adjusted Operating Earnings of $1.82 per share for Q1 2024. The full-year 2024 Adjusted Operating Earnings guidance range is $7.23 - $8.03 per share. Moody's upgraded the issuer credit rating from Baa2 to Baa1. In April 2024, the company authorized an additional $1 billion for share repurchase. Constellation issued the Nation's first corporate green bond, including nuclear energy.

Constellation Energy (CEG) declared a quarterly dividend of $0.3525 per share on June 10, 2024, for shareholders of record by May 29, 2024. The company is a Fortune 200 entity and a major clean energy producer in the US, aiming for 100% carbon-free generation by 2040.

Constellation, the nation's largest producer of reliable, carbon-free energy, seeks to extend the license of its Dresden Clean Energy Center for an additional 20 years. This renewal application with the NRC aims to provide Illinois with 305 terawatt hours of additional carbon-free electricity, surpassing the output of all wind and solar facilities in the state. The facility, currently licensed through 2029 and 2031, plays a important role in addressing the climate crisis and supporting the regional economy.