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Investing

Constellation Energy Posts Big Miss (CEG, EXC, PGN, DUK)

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By Paul Ausick Published
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Constellation Energy Group Inc. (NYSE: CEG) posted an EPS loss of -$2.91 on revenue of $2.95 billion. Stripping out costs related to the company’s merger with Exelon Corp. (NYSE: EXC), adjusted EPS came in at $0.05. The consensus estimate called for EPS of $0.64 on revenue of $5.89 billion.

The company’s $8 billion merger with Exelon remains on track to be completed in the first quarter, barring any regulatory intervention. The merger with Exelon still needs approval from the Federal Energy Regulatory Commission (FERC) which is also reviewing the proposed acquisition of Progress Energy Inc. (NYSE: PGN) by Duke Energy Corp. (NYSE: DUK).

Constellation, like other merchant power company, has been hit hard by the decreased demand for electricity and by the collapsing price for power. The proposed mergers could help with pricing power, but the FERC has said that it will not relax its existing merger guidelines as two other federal agencies have.

Constellation stock has not traded in the pre-market today, but closed yesterday at $36.67, up about 1.19% from the previous day.

Contact [email protected] for any questions or corrections.

Disclaimer: Energy Exploration Technologies, Inc. ("EnergyX") has engaged 24/7 Wall St to publish this communication in connection with EnergyX's ongoing Regulation A offering. 24/7 Wall St has been paid in cash and may receive additional compensation. 24/7 Wall St and/or its affiliates do not currently hold securities of EnergyX.

This compensation and any current or future ownership interest could create a conflict of interest. Please consider this disclosure alongside EnergyX's offering materials. EnergyX's Regulation A offering has been qualified by the SEC. Offers and sales may be made only by means of the qualified offering circular. Before investing, carefully review the offering circular, including the risk factors. The offering circular is available at invest.energyx.com/.

Comparisons to other companies are for informational purposes only and should not imply similar results. Past performance is not indicative of future results. Market shortfall are forward‑looking estimates and are subject to substantial uncertainty. Investments in private placements, and start-up investments in particular, are long-term, illiquid, speculative and involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest in start-ups

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About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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