Filing Flows › Constellation Energy (CEG) › Q3 2026
Constellation Energy (CEG) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 9, 2026
Constellation Energy (CEG) reported revenue of $9.6B for the third quarter 2026 (Q3 2026), +45% from a year earlier and +27% from the quarter before. Operating margin was 26.1%, net earnings $1.8B (19.2% of revenue).
Constellation Energy, Q3 2026: revenue $9.6B (+45% year over year), operating margin 26.1%, net earnings $1.8B, operating cash flow $3.4B. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $9.6B | +27% | +45% |
| Operating profit | $2.5B | +330% | +129% |
| Net earnings | $1.8B | +261% | +98% |
| Operating cash flow | $3.4B | +204% | +85% |
| Free cash flow | $2.5B | — | +71% |
What changed
Revenue was $9.6B in Q3 2026, up 45% year over year and up 27% from the previous quarter. Total power revenues was the largest line at 66% of revenue. Total power revenues added $0.94B year over year (up 18%), 32% of the total change.
Operating profit was $2.5B, a 26.1% margin (up 9.6 points year over year). Of the extra revenue versus Q3 2025, 47% reached operating profit, above the 17% margin then. Total costs grew 29% against revenue growth of 45%. Net earnings were $1.8B, up 97% year over year. The effective tax rate was 18.1%.
Operating cash flow was $3.4B (up 85% year over year), 187% of net earnings. Non-cash charges added back $0.53B of depreciation and amortization. Working capital and other items added $1.1B. Capital expenditures of $0.94B left free cash flow of $2.5B.
Questions
What was Constellation Energy's revenue in the third quarter 2026?
Constellation Energy (CEG) reported revenue of $9.6B for the third quarter 2026 (Q3 2026), +45% from a year earlier and +27% from the quarter before.
Was Constellation Energy profitable in the third quarter 2026?
Operating profit was $2.5B (26.1% of revenue) and net earnings $1.8B.