Earnings Report: Constellation Energy Misses Estimates As Sales Tumble 14% (CEG)

Constellation Energy Group (NYSE:CEG) reported Q2 EPS of $0.71, ex-items, missing consensus estimates of $0.74.

Revenues in the quarter fell 14% to $3.31 billion, vs. consensus estimates of $4.16 billion.

The group reaffirmed its EPS guidance for 2010 in a range of $3.05 - $3.45 (vs. consensus estimates of $3.32).

SmarTrend is bullish on shares of Constellation Energy and our subscribers were alerted to buy on July 13, 2010 at $34.03. The stock has risen 2.6% since the alert was issued.

Constellation Energy Group Inc. is public utility holding company. The Company, through its subsidiaries, develops, owns, and operates electric generation facilities located in various regions of the United States as well as operates an electric transmission and distribution utility company and a gas distribution utility company.

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