constellation energy Q1 2006 Earnings Presentation

- Constellation Energy reported adjusted earnings per share of $0.68 for Q1 2006, above the guidance range of $0.46-$0.61 excluding synfuel earnings. - Key drivers included stronger than expected performance from the Commodities Group and completion of planned nuclear refueling outages. - The company reiterated its 2006 adjusted EPS guidance range of $3.65-$3.95 excluding synfuel earnings, and provided an outlook for 13-17% annual EPS growth through 2008. - Political uncertainty in Maryland related to BGE's rate freeze expiration and the proposed merger with FPL Group increased during the quarter.