Constellation Energy Sells Texas Plant Amid Q2 Earnings Surge

Constellation Energy reported adjusted operating earnings of $2.55 per share for the second quarter of 2026, an increase from $1.91 during the same period the previous year. During the earnings call, CEO Joseph Dominguez argued that existing power generation serves as the bedrock for the early phase of the data economy, stating that waiting for new power plants would hinder economic growth. He noted that existing systems maintain sufficient capacity for over 99% of the year and that peak reliability concerns can be managed through demand response and batteries.

As part of a settlement with the United States Department of Justice regarding its Calpine purchase, the company sold the 606-MW gas-fired Brazos Valley power plant in Texas to LS Power for $860 million. CFO Shane Smith noted that the competitive sale process demonstrated the long-term value of gas-fired assets with potential for high utilization rates.

Regarding the Batch Zero interconnection process in Texas, the company expressed confidence in the requested data center information. Chief of external affairs and growth officer Dave Dardis described the current delays as a temporary measure that the industry can manage.