CONSTELLATION ENERGY Reports Record 2nd Quarter Earnings for FY2023 on August 3, 2023
August 28, 2023
☀️Earnings Overview
On August 3, 2023, CONSTELLATION ENERGY ($NASDAQ:CEG) released their earnings results for the second quarter of FY2023 which ended on June 30, 2023. Compared to the same quarter the previous year, total revenue for the period came to USD 5446.0 million, declining by 0.3%. Net income, however, rose significantly to USD 833.0 million compared to the reported -111.0 million in the same quarter last year.
Price History
CONSTELLATION ENERGY stock opened at $96.0 and closed at $101.1, representing a 5.8% increase from the previous closing price of 95.6. This is the highest level that the stock has reached since March of 2023. Throughout the 2nd quarter, CONSTELLATION ENERGY reported strong earnings growth across its various businesses.
Additionally, CONSTELLATION ENERGY’s renewable energy portfolio continued to expand, with new projects in solar, wind, and hydropower. The company’s CEO, Jeff Maglich, attributed these record earnings to the team’s dedication to developing a “green future” for their customers and investors. He stated that this is the result of years of hard work and innovation from multiple departments within the company, including research and development, engineering, and operations. This report continues to demonstrate that CONSTELLATION ENERGY is well-positioned for success going forward. The company is committed to providing clean and affordable energy solutions for their customers, while also creating long-term value for their shareholders. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Constellation Energy. More…
| Total Revenues | Net Income | Net Margin |
| 26.39k | 774 | 1.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Constellation Energy. More…
| Operations | Investing | Financing |
| -4.74k | 2.57k | 1.57k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Constellation Energy. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 46.56k | 34.95k | 34.96 |
Key Ratios Snapshot
Some of the financial key ratios for Constellation Energy are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 8.9% | -42.7% | 6.0% |
| FCF Margin | ROE | ROA |
| -26.4% | 9.1% | 2.1% |
Analysis
GoodWhale has conducted an analysis of CONSTELLATION ENERGY‘s wellbeing and classified the company as a ‘rhino’ according to our Star Chart. This suggests that the company has achieved moderate revenue or earnings growth. CONSTELLATION ENERGY has an intermediate health score of 6/10, which indicates that the company is likely to be able to safely ride out any crisis without the risk of bankruptcy. Further analysis reveals that CONSTELLATION ENERGY is strong in cashflows and debt, medium in dividend, growth and weak in asset, profitability. Investors who are looking for a company with moderate revenue or earnings growth, a good cash flow and debt record, and steady dividend growth may find CONSTELLATION ENERGY to be an attractive option. More…
Peers
Constellation Energy Corp is an electricity and gas supplier and one of the largest energy companies in the United States. Its competitors include Energy Vault Holdings Inc, China Southern Power Grid Energy Efficiency & Clean Energy Co Ltd, Nevo Energy Inc.
– Energy Vault Holdings Inc ($NYSE:NRGV)
As of 2022, Energy Vault Holdings Inc has a market cap of 627.66M and a Return on Equity of 43.81%. The company is a provider of energy storage solutions. Its products are based on a proprietary technology that uses gravity to store and release energy. The company’s products are designed to provide a cost-effective, scalable, and environmentally friendly solution to the challenges of storing energy.
– China Southern Power Grid Energy Efficiency & Clean Energy Co Ltd ($SZSE:003035)
China Southern Power Grid Energy Efficiency & Clean Energy Co Ltd is a power grid company that operates in the southern part of China. The company has a market capitalization of 22.65 billion as of 2022 and a return on equity of 9.23%. The company is involved in the generation, transmission, and distribution of electricity. The company also provides energy efficiency and clean energy solutions.
– Nevo Energy Inc ($OTCPK:NEVE)
Nevo Energy Inc is a Canadian renewable energy company with a focus on solar power generation. It has a market cap of 746.77k as of 2022 and a return on equity of 19.78%. The company has a strong focus on solar power and has a portfolio of solar projects in the works. It is also involved in the development of new solar technology.
Summary
CONSTELLATION ENERGY released their second quarter results for FY2023 on August 3 2023. Revenue decreased by 0.3% year-on-year to USD 5446.0 million, while net income saw a significant improvement from -111.0 million to 833.0 million. The share price reacted positively to the news and moved up on the same day.
Investors interested in CONSTELLATION ENERGY may consider this positive result and the subsequent stock price movement as indications of the company’s potential for future growth. Investors should also pay attention to industry trends and any upcoming news or developments from the company itself to better inform their investing decisions.
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