Constellation Energy Group, Inc. Q1 Profit Increases, Beats Estimates

(RTTNews) - Constellation Energy Group, Inc. (CEG) announced a profit for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $883 million, or $2.78 per share. This compares with $96 million, or $0.29 per share, in last year's first quarter.

Excluding items, Constellation Energy Group, Inc. reported adjusted earnings of $579 million or $1.82 per share for the period.

Analysts on average had expected the company to earn $1.49 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 18.6% to $6.16 billion from $7.57 billion last year.

Constellation Energy Group, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $883 Mln. vs. $96 Mln. last year. -EPS (Q1): $2.78 vs. $0.29 last year. -Revenue (Q1): $6.16 Bln vs. $7.57 Bln last year.

-Guidance: Full year EPS guidance: $7.23 to $8.03