Constellation Energy Bets On Nuclear To Fuel Strong Profit Run

Fresh off a split from utility giant Exelon, Constellation Energy ( CEG ) is riding momentum from the recently approved Inflation Reduction Act, and could see full-year earnings triple by 2026. CEG stock has been trending up since early this year.

The largest nuclear power plant operator in the U.S., Constellation is dealing with a volatile energy market, a tough economic environment and potential concerns around switching uranium supplies from Russia.

But when reporting second-quarter earnings in August, company executives gushed when they told analysts about how Constellation expected to benefit from the Inflation Reduction Act, the landmark bill that President Joe Biden would sign just days later. It also was the company’s second earnings report since Constellation Energy spun off from Exelon ( EXC ) earlier this year.

"We’re a unique company that cannot be replicated," Chief Executive Joseph Dominguez said.Dominguez noted how Constellation Energy owns 25% of U.S. nuclear power […]

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