Constellation Energy slips after forecasting 2026 profit below estimates

Shares of major U.S. power company Constellation Energy CEG.O down 8.5% at $273.40

Co forecasts 2026 adjusted profit per share between $11 and $12, the midpoint of which is slightly below analysts' estimates of $11.60 - data compiled by LSEG

Says $3.9 billion growth capex to be invested in the business, expects double-digit returns

Increases total available share buyback authorization to $5 billion

Expects base earnings per share growth of 20% and more from 2026-2029

Including session's move, CEG down 22.6% YTD