Constellation Energy Group Earnings Cheat Sheet: Sees Profit Move Up

The Cheat Sheet

S&P 500 component Constellation Energy Group Inc. reported its results for the second quarter. Constellation Energy Group, Inc. is an energy company that provides energy solutions and electric transmission through its subsidiaries.

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Constellation Energy Group Earnings Cheat Sheet for the Second Quarter

Results: Net income for Constellation Energy Group Inc. rose to $99.2 million (49 cents per share) vs. $72.6 million (36 cents per share) in the same quarter a year earlier. This marks a rise of 36.6% from the year earlier quarter.

Revenue: Rose 1.5% to $3.36 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: CEG reported adjusted net income of 76 cents per share. By that measure, the company fell short of mean estimate of 82 cents per share. It fell short of the average revenue estimate of $3.86 billion.

Quoting Management: “Our competitive advantage continues to be our ability to bundle competitively priced conventional and renewable energy supply with a broad portfolio of energy efficiency and management solutions,” Shattuck said. “We recently grew our national mass-market footprint with the acquisitions of Connecticut-based MXenergy, one of the 10 largest suppliers of electricity and natural gas to residential customers, and StarTex, a Houston-based supplier of electricity to residential and business customers in the active Texas market. These acquisitions are an important component of our growth and diversification strategy, and put us near our goal to serve one million residential customers by year-end.”

Key Stats:

The company has now missed analyst estimates for the last four quarters. It fell short by 33 cents in the first quarter, by 15 cents in the fourth quarter of the last fiscal year, and by 16 cents in the third quarter of the last fiscal year.

Revenue rose last quarter after seeing a drop the quarter before. Revenue fell 0.5% to $3.57 billion in the first quarter from the year earlier.

Competitors to Watch: Calpine Corporation , NRG Energy, Inc. , Dynegy Inc. , Exelon Corporation , ALLETE, Inc. , ITC Holdings Corp. , Integrys Energy Group, Inc. , The AES Corporation , Pepco Holdings, Inc. , and American Electric Power Co., Inc. .

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(Source: Xignite Financials)

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