May 6, 2011
Constellation Energy Group (NYSE:CEG) reported Q1 EPS of $0.63 today, falling short of the consensus estimate for $0.96 per share. Revenues for the quarter were down about 0.5% year-over-year to $3.57 billion, well below the consensus estimate for $4.12 billion.
Mayo A. Shattuck III, chairman, president and chief executive officer of Constellation Energy said, "Our continuing strategy to grow assets and expand our industry-leading, customer-driven business got off to a fast start in 2011, beginning with our integration of Boston Generating's fleet of gas plants in January and continuing with our recent expansion into the residential competitive electric market in Illinois."
Constellation Energy reaffirmed its 2011 EPS guidance in the range of $3.10 to $3.40, in-line with the consensus estimate for $3.24 per share, and its 2012 EPS guidance range of $2.40 to $2.70, also in-line with the consensus estimate, which stands at $2.51 per share.
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