Income StatementBalance SheetCash FlowSegments
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Constellation Energy Business Segments

Business, geographic, and product segment breakdowns

Constellation Energy generates $30.1B in annual revenue across 4 key segments: Calpine ($1.1B), ERCOT ($209.0M), Mid-Atlantic ($812.0M), and Midwest ($854.0M). The company-wide operating margin is 12.37%. Based on the Q1 2026 filing.

Calpine$1.1BERCOT$209.0MMid-Atlantic$812.0MMidwest$854.0MNew York$409.0MOther Power Regions$267.0M
Latest FilingQ1 2026
Report Date2026-05-11
Market Cap$106.22B
P/E Ratio32.55

Products & Services

Revenues from contracts with customers

SegmentQ1 '22Q2 '22Q3 '22Q3 '23Q1 '25Q1 '26
Total Power revenues————$5.2B$6.5B
Gas revenues————$782.0M$943.0M
Other revenues————$86.0M$145.0M

Unrealized mark-to-market gains (losses)

SegmentQ1 '22Q2 '22Q3 '22Q3 '23Q1 '25Q1 '26
Product and Service, Other————-$287.0M$1.3B

Geographic

Number of generation assets to be sold

SegmentQ1 '22Q2 '22Q3 '22Q3 '23Q1 '25Q1 '26
PJM—————500.0%
ERCOT—————100.0%

Business Segments

Operating revenues

SegmentQ1 '22Q2 '22Q3 '22Q3 '23Q1 '25Q1 '26
Calpine—————$2.4B

Purchased Power and Fuel Expenses

SegmentQ1 '22Q2 '22Q3 '22Q3 '23Q1 '25Q1 '26
Calpine—————$1.3B
Other Power Regions————$1.4B$1.2B
Mid-Atlantic————$856.0M$1.0B
Midwest————$554.0M$878.0M
ERCOT————$184.0M$161.0M
New York————$161.0M$160.0M

Revenues, Net of Purchased Power and Fuel Expense

SegmentQ1 '22Q2 '22Q3 '22Q3 '23Q1 '25Q1 '26
Calpine—————$1.1B
Midwest————$850.0M$854.0M
Mid-Atlantic————$809.0M$812.0M
New York————$401.0M$409.0M
Other Power Regions————$194.0M$267.0M
ERCOT————$214.0M$209.0M

Total operating revenues

SegmentQ1 '22Q2 '22Q3 '22Q3 '23Q1 '25Q1 '26
Constellation Mid Atlantic$1.2B$1.2B$1.7B$1.5B$1.7B$1.8B
Constellation Midwest$1.2B$1.3B$1.2B$1.2B$1.4B$1.7B
Constellation Other Regions$1.9B$1.3B$1.9B$1.6B$1.6B$1.5B
Constellation New York$494.0M$461.0M$536.0M$522.0M$562.0M$569.0M
Constellation ERCOT$235.0M$489.0M$496.0M$559.0M$398.0M$370.0M