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Constellation Energy reports earnings
Constellation’s Clinton Clean Energy Center’s single nuclear reactor power plant shown on July 25, 2025, in Clinton, Illinois (Scott Olson/Getty Images)

Top AI energy trade Constellation Energy slips on earnings

The largest nuclear power provider in the US has soared on the prospect of relentless demand from data centers.

Matt Phillips

Nuclear power plant operator Constellation Energy reported Q3 earnings Friday before the start of trading in New York that fell short of analyst profit expectations and sent shares lower.

The owner of the largest fleet of US nuclear plants reported:

  • Q3 adjusted earnings per share of $3.04 vs. the $3.11 consensus estimate from Wall Street analysts published by FactSet.

  • Revenue of $6.57 billion vs. the $6.20 billion expected by analysts.

  • Narrowed adjusted earnings-per-share guidance of between $9.05 and $9.45 vs. previous guidance of $8.90 to $9.60.

Constellation Energy was up nearly 60% for the year at the end of trading on Thursday, as the company has benefited from the perception of relentless and growing demand from AI hyperscalers looking to make deals with power providers. That gain is on top of last year’s price run-up roughly 90%.

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