WASHINGTON (dpa-AFX) - Constellation Energy Group, Inc. (CEG), while reporting a profit in its fourth quarter, compared to prior year's loss, despite weak revenues, on Tuesday affirmed its fiscal 2025 adjusted operating earnings outlook:
Constellation added that it will invest over $2.5 billion in 2025 to reliably operate business for the long-term and fund its growth investments to help meet growing power demand.
Further, the Board of Directors has declared a quarterly dividend of $0.3878 per share on common stock. The dividend is payable on March 18, to shareholders of record on March 7.
For fiscal 2025, Constellation Energy continues to expect adjusted operating earnings at $8.90 to $9.60 per share.
The Wall Street analysts on average expect the company to report earnings of $9.43 per share. Analysts' estimates typically exclude special items.
In fiscal 2024, earnings per share were $11.89 on an as-reported basis and adjusted operating earnings were $8.67 per share.
In its fourth quarter, net profit was $852 million or $2.71 per share, compared to last year's loss of $36 million or $0.11 per share.
Adjusted operating earnings were $765 million or $2.44 per share for the period, compared to $1.74 per share a year ago. Analysts projected $2.19 per share.
Revenue for the quarter fell to $5.382 billion from $5.796 billion in the same period last year. The Street was looking for revenues of $4.75 billion for the quarter.
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