Constellation Energy Misses Q2 Estimates

- Constellation Energy Misses Q2 Estimates



Aug 3, 2011

Constellation Energy (NYSE:CEG) reported Q2 adjusted EPS of $0.76, less than the analyst estimates of $0.85 per share. Revenues for the quarter rose 1.5% year-over-year to $3.35 billion, missing consensus estimates of $3.86 billion.

The company lowered its 2011 earnings guidance range by $0.05 to $3.05 to $3.35 per share, reflecting the combined effects of longer-than-expected outages at their nuclear joint venture facilities and the impact of our recent acquisitions in the competitive residential electric market. In light of the pending merger with Exelon, the company is no longer providing earnings guidance for 2012.

Constellation Energy (NYSE:CEG) has a potential upside of 6.3% based on a current price of $37.85 and an average consensus analyst price target of $40.25.

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Constellation Energy Reports Disappointing Q1, But Reaffirms 2011 Guidance

Constellation Energy Reports Disappointing Q1, But Reaffirms 2011 Guidance



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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Contsellation To Build Solar Plant In Holyoke, Mass.

Contsellation To Build Solar Plant In Holyoke, Mass.



Apr 13, 2011

Constellation Energy (NYSE:CEG) and the Holyoke Gas & Electric Department announced today the development of a new 4.5-megawatt solar installation that will generate electricity for 18,000 customers in Holyoke, Massachusetts.

The system is scheduled for completion this summer, and will be among the largest solar installations in New England.

Constellation will build, own, and maintain the system while HG&E will purchase all of the electricity generated from the plant under a 20-year power purchase agreement at a fixed cost that is less than projected market electricity rates.

Michael D. Smith, senior vice president of green initiatives for Constellation Energy's retail business said, "Large-scale solar generation is an attractive option for municipal utilities to manage volatile energy costs for their customers and meet renewable energy goals. In states like Massachusetts with strong market-based incentive programs, Constellation can provide solar power to municipal utilities at a rate that is significantly less than electricity from other generation sources, which benefits both the environment and power customers' bottom lines."

Constellation Energy has a potential upside of 5.1% based on a current price of $33.18 and an average consensus analyst price target of $34.86.

Constellation Energy Reached Deal To Manage Toyota's Natural Gas Needs (CEG,TM)

Constellation Energy Reached Deal To Manage Toyota's Natural Gas Needs (CEG,TM)



Constellation Energy (NYSE:CEG) said it reached a deal with Toyota Motor Corp.'s (NYSE:TM) North American engineering and manufacturing operations to manage its natural gas needs.

The company will handle natural gas supply, risk management, hedging, budget analysis, energy market monitoring and other services for Toyota manufacturing facilities in the U.S., Canada and Mexico. It will also provide risk management services to 14 facilities and will supply natural gas to nine Toyota sites in North America.