Constellation Energy Corporation - CEG STOCK NEWS

Constellation Energy Corporation (Nasdaq: CEG) reported a GAAP net loss of ($111) million for Q2 2022, worsening from ($61) million in Q2 2021. Adjusted EBITDA (non-GAAP) fell to $603 million, down from $656 million year-over-year. The company reaffirmed its full-year adjusted EBITDA guidance at $2.35 billion to $2.75 billion, supported by higher energy prices and lower nuclear fuel costs. Recent agreements with Bank of America and PNC Bank aim to procure carbon-free energy. Highlights also included legislation supporting nuclear energy and a significant renewable energy deal from the Mammoth Solar project.

Constellation (NASDAQ: CEG) announced its acceptance of applications for the E² Energy to Educate grant program for 2022, aimed at funding student projects focused on energy innovation. Grants of up to $25,000 for secondary education and up to $50,000 for college students are available. The previous year's program granted nearly $515,000 across 23 projects, engaging nearly 21,000 students. To date, the initiative has provided nearly $5 million in funding, impacting nearly 250,000 students nationwide.

Constellation, the largest producer of carbon-free energy in the U.S., is launching customized carbon emissions reports for all commercial and industrial clients. This initiative is part of their 100/100/100 climate pledge, aiming for 95% carbon-free electricity by 2030 and 100% by 2040. The reports will detail customers' emissions and offer insights on reducing carbon footprints. With 60% of Fortune 500 companies pursuing climate goals, this move aligns with growing corporate and governmental focus on sustainability. Reports will be distributed to clients, including three-fourths of the Fortune 100, by the end of 2022.

The Board of Directors of Constellation Energy Corporation (Nasdaq: CEG) has declared a quarterly dividend of $0.141 per share on common stock. This dividend is payable on September 9, 2022, to shareholders of record as of 5 p.m. Eastern time on August 15, 2022. Constellation is the largest producer of clean, carbon-free energy in the U.S., providing approximately 10% of the grid's carbon-free energy with a goal of achieving 100% carbon-free power generation by 2040.

Constellation Clearsight has entered a long-term partnership with Voliro AG, aiming to integrate advanced airborne robotic technology for energy inspections in the U.S. market. This collaboration leverages Voliro's innovative drone capabilities, allowing Clearsight to deliver enhanced inspection services with features like Non-Destructive Testing and Ultrasonic Testing. According to executives from both companies, this agreement is expected to enable faster and safer inspections, improving operational efficiency in maintaining critical infrastructure.

Constellation CEO Joe Dominguez emphasized the vital role of nuclear energy in achieving a clean-energy economy during a keynote at the Nuclear Energy Assembly. He argued that enhancing the nuclear fleet is crucial for tackling the climate crisis and ensuring energy security. Constellation plans to produce 95% carbon-free electricity by 2030 and aims for 100% by 2040. The company is exploring technologies like hydrogen production and direct air capture, supported by DOE grants, to further reduce emissions and foster sustainable fuel solutions.

Constellation, based in Warrenville, Illinois, has engaged over 13,000 workers to perform maintenance and technology upgrades during six spring refueling outages at its nuclear plants. These efforts aim to ensure continuous, safe, carbon-free electricity for 15 million customers during the upcoming summer months. Key activities included inspecting and refurbishing critical components and completing extensive technical projects. The maintenance is expected to enhance reliability and potentially stabilize electricity prices in Illinois, while the Climate & Equitable Jobs Act could yield $1 billion in benefits for local ratepayers.

Constellation Energy Corporation (Nasdaq: CEG) reported a strong financial performance for Q1 2022, achieving a GAAP net income of $106 million and an adjusted EBITDA of $866 million, significantly improving from previous losses. The company reaffirmed its full-year adjusted EBITDA guidance of $2.35 billion to $2.75 billion. Constellation is focused on sustainability, launching partnerships with Microsoft and companies like Sheetz and Comcast to enhance carbon-free energy solutions. The company successfully reduced nearly $2.5 billion in debt and aims to strengthen its balance sheet further.

Exelon Corporation (NASDAQ: EXC) reported first-quarter 2022 results, marking a pivotal moment post-separation from Constellation Energy. The company achieved a GAAP Net Income of $0.49 per share and Adjusted Operating Earnings of $0.64 per share, reflecting a year-over-year increase. Adjusted earnings guidance for 2022 is reaffirmed at $2.18-$2.32 per share. Strong operational performance was noted, particularly in ComEd, which provided record reliability. Recent regulatory activities include distribution rate cases filed by PECO and ComEd, supporting infrastructure investments.