Constellation Energy Raises 2023 Adj. EBITDA Guidance

(RTTNews) - Constellation Energy Corp. (CEG) reported third quarter GAAP net income of $731 million compared to a loss of $188 million, a year ago. Profit per share was $2.26 compared to a loss of $0.57. Adjusted EBITDA increased to $1.20 billion from $592 million.

On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $1.37, for the quarter. Analysts' estimates typically exclude special items.

Third quarter operating revenues increased to $6.11 billion from $6.05 billion. Analysts on average had estimated $6.7 billion in revenue.

The company increased guidance range for full year 2023 adjusted EBITDA to a range of $3.80 billion to $4.00 billion. Previously, the company projected adjusted EBITDA in a range of $3.30 billion - $3.70 billion.

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