Constellation Energy reported its financial results for the first quarter of 2025, with operating revenues totaling $6,788 million, an increase from $6,161 million in the prior-year period. This growth was primarily driven by favorable market conditions and commercial optimization.
GAAP Net Income attributable to common shareholders was $118 million ($0.38 per share) in Q1 2025, compared to $883 million ($2.78 per share) in Q1 2024. However, adjusted operating earnings, which normalize for mark-to-market and other non-recurring items, increased to $2.14 per share from $1.82 per share in the same period.
The company reaffirmed its full-year 2025 adjusted operating earnings guidance range of $8.90 to $9.60 per share, signaling confidence in its ability to deliver strong results. Constellation's nuclear plants achieved a 94.1% capacity factor, and cash provided by operating activities significantly improved to $107 million from cash used of $723 million in Q1 2024.
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