Constellation Energy (NYSE: CEG) Reports EPS of $0.63 vs. $0.96 Estimate; Revenues $3.57 vs. $4.12B Estimate

Constellation Energy CEG today reported adjusted earnings of $0.63 per share for the first quarter of 2011, compared with adjusted earnings of $1.43 per share in the same period last year. Adjusted earnings exclude the cumulative effects of changes in accounting principles, discontinued operations and special items (which are defined as significant items that are not related to the company's ongoing, underlying business or which distort comparability of results). On a Generally Accepted Accounting Principles (GAAP) basis, Constellation Energy reported earnings of $0.35 per share in the first quarter of 2011, compared with earnings of $0.95 per share in first quarter 2010.