Constellation Energy shares rose 10.9% to $277.14 by about 2:23 p.m. Eastern on Monday, in trading still in progress, after the power producer reported stronger third-quarter earnings and lifted its full-year outlook.
Adjusted operating earnings were $5.06 per share, up from $3.04 a year earlier, while net income was $5.19 per share compared with $2.97. The adjusted figure topped the $3.89 estimate compiled by Fiscal AI, according to a report on Yahoo Finance.
The company raised the midpoint and narrowed its 2026 adjusted operating earnings range to $12.50 to $12.80 per share. Its earlier range was $11.50 to $12.50, according to the same report. Constellation cited favorable market and portfolio conditions and the addition of Calpine, which it acquired in January.
Constellation also agreed to buy the 609-megawatt Rhode Island State Energy Center from Shell Energy North America for $715 million, subject to adjustments and regulatory approvals.
The company has also signed long-term power deals with technology customers, including a 20-year, 690-megawatt agreement with Amazon announced in September and a 20-year agreement with Google announced in October.
Investors will watch progress on the Rhode Island purchase and on how quickly those contracts turn into earnings.
