Constellation Energy Corporation Q3 Profit Decreases, Misses Estimates

(RTTNews) - Constellation Energy Corporation (CEG) announced earnings for third quarter that Decreased from the same period last year and missed the Street estimates.

The company's earnings came in at $930 million, or $2.97 per share. This compares with $1.200 billion, or $3.82 per share, last year.

Excluding items, Constellation Energy Corporation reported adjusted earnings of $952 million or $3.04 per share for the period.

Analysts on average had expected the company to earn $3.12 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 0.3% to $6.570 billion from $6.550 billion last year.

Constellation Energy Corporation earnings at a glance (GAAP) :

-Earnings: $930 Mln. vs. $1.200 Bln. last year. -EPS: $2.97 vs. $3.82 last year. -Revenue: $6.570 Bln vs. $6.550 Bln last year.

Looking ahead, for the full year, Constellation Energy has revised its earnings outlook in line with analysts’ estimates.

The company now expects adjusted income of $9.05 to $9.45 per share against the earlier outlook of $8.90 to $9.60 per share. Analysts on average expect the company to report earnings of $9.42 per share for the year.

CEG was down by 4.36% at $336.73 in the pre-market trade on the Nasdaq.