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CEGNuclear / Energy

Constellation Energy

Largest clean energy producer in the US. Operates 21 nuclear power plants generating 10% of US clean electricity. Beneficiary of AI data center power demand surge and DoD nuclear energy mandates.

$284.50
$4.84 (+1.73%)

◆ KEY PROGRAMS

Three Mile Island Unit 1 (Restart)Calvert Cliffs Nuclear PlantBraidwood StationByron Nuclear StationLimerick Nuclear PlantDoD Nuclear PPA Program

◆ RECENT CONTRACTS

DoD 20-Year Nuclear PPA

DoD OSD · 2026-03-15
$4.2B

Microsoft TMI Nuclear Deal

Microsoft · 2025-09-20
$3.8B

DoE Production Tax Credit Claim

DoE IRS · 2026-01-01
$1.1B/yr

◆ RELATED SIGNALS (1)

Constellation Energy Reset Weighs On Outlook As Buyback And Capex Expand

Constellation Energy (NasdaqGS:CEG) issued its 2026 earnings outlook, which came in below market expectations. The company cited higher integration costs from the recent Calpine acquisition and project delays as key pressure points. Alongside the outlook, Constellation Energy announced a US$5b share buyback program. The company also laid out large capital expenditure plans and confirmed sizable divestments tied to regulatory requirements. For you as an investor, this is more than a routine...

◆ GEOPOLITICAL HEADWINDS (5)

Taiwan Strait: PLA Navy Conducts Largest Exercise Since 2024

SEV 9

Satellite imagery confirms 47-vessel PLA Navy exercise in Taiwan Strait with live-fire components. Japan raises alert level. US 7th Fleet repositions.

EU Expands Russia Sanctions — 14th Package Targets Defence Supply Chains

SEV 7

New EU sanctions package targets Russian microelectronics procurement networks. Secondary sanctions on third-country intermediaries.

Middle East: Houthi Anti-Ship Missile Hits Commercial Vessel

SEV 8

Greek-flagged tanker struck in Red Sea. USN Destroyer USS Laboon intercepts 2 additional missiles. Oil futures spike 2.1%.

DPRK Tests Hypersonic Glide Vehicle — 8th Launch This Year

SEV 7

North Korea launches HGV variant from mobile TEL. Trajectory indicates Mach 10+ terminal speed. Japan activates J-Alert.

US-China Chip Export Controls Tightened — ASML Restrictions Expanded

SEV 6

Commerce Dept expands entity list. ASML barred from servicing DUV systems in China. Beijing retaliates with rare earth export controls.

◆ FINANCIALS

Revenue$24.8B
Ebitda$4.2B
Backlog$28.4B
P/E Ratio28.4
Div Yield0.64%

◆ RISK FACTORS

Regulatory approval timeline for TMI restart
NRC relicensing complexity
Carbon credit price volatility
Unplanned outage operational risk

◆ MACRO CONTEXT

FOMC Holds Rates at 4.25-4.50% — Unanimous Decision

RATE DECISIONHAWKISH

Powell Press Conference: "Patient Approach Remains Appropriate"

SPEECHHAWKISH

Fed Governor Waller: Data Supports Holding Through Q3

SPEECHHAWKISH
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