Constellation Energy Analyst Meeting - Strong 2007 and 2008 Prospects Reinforced

Constellation Energy (CEG) held an analyst meetingf on August 29th, 2005, writes utility analyst Sandy Cohen, and highlighted its strong long-term earnings growth prospects.

Amongst many other topics brought up, CEG reiterated its 2005 earnings guidance of $3.35-$3.65 EPS, and 2007 EPS guidance of $4.75-$5.00. Additionally, CEG reminded investors and analysts that the company believed 2008 could show 10%, or more, EPS growth, even with the loss of earnings from synfuel tax credits (which expire, by law, after 2007).

The company profiled in some detail its various businesses, including:

1. A general review of CEG's Generation business
2. A general review of CEG's Nuclear business
3. The outlook for the Nuclear business
4. The outlook for the Generation business
5. How the Generation business reports its results

Try the following links, for more detail:

• CEG's Index on Presentations: This should have a link to the slide presentation provided to investors, and the webcast of the analyst day.
• Slide Show PDF Link: This should allow direct access to the slide show, though sometimes these links do not work.

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Comments

[up1point:]

CEG did not have a great quater and it gave its best spin by distracting analysts with a long dated guidance which is to obsurd to believe. If we believe that gas price is to fall after 08 and so should power prices. However, CEG used today's power price to glorify its merchant generations' potential. To me, the management was trying to misguide the analysts so that the stock won't suffer. In addition, the New Energy did not have a sequential growth and is facing tremendous pressure in TX where CEG had over 4000 MWs of load in Q2. There are no headrooms in TX right now and CEG could potentially lose lots of load during the course of next few quaters.

2005 Oct 28 09:59 AM

[User 104202:]

j

2007 Sep 08 01:32 AM