Constellation Energy Corp's stock plummeted 8.25% during intraday trading on Tuesday, following the company's investor presentation where it issued 2026 financial guidance that fell short of Wall Street expectations and failed to announce anticipated new data center power agreements.
The major U.S. power company forecast adjusted earnings of $11 to $12 per share for 2026, with the midpoint of this range below the analyst consensus estimate of approximately $11.73 per share. This guidance disappointment overshadowed other positive announcements, including an increased share buyback authorization to $5 billion and plans for $3.9 billion in growth capital expenditure aimed at meeting rising clean power demand.
Investors had been expecting Constellation to announce new lucrative agreements to supply power to technology companies' data centers, particularly following previous deals with Meta and Microsoft. However, CEO Joe Dominguez stated the company wasn't ready to announce any new transactions, citing increased scrutiny on data center development and changing regulations. The lack of new deal announcements combined with the below-expectations profit guidance triggered the significant sell-off in the stock.
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