Constellation Energy missed Q3 revenue at $6.57B but operates 90% carbon-free generation, with nuclear production rising to 46,477 gigawatt-hours. Vistra missed revenue at $4.97B, net income fell 66.7% to $652M. Vistra acquired seven natural gas plants and began building two new gas units. Vistra trades at 17.92x forward earnings, guiding 2026 EBITDA to $6.8B-$7.6B from $5.7B-$5.9B in 2025.

Constellation Energy and Vistra Energy reported Q3 earnings, showing different power generation strategies. Constellation focuses on nuclear and renewables, Vistra has diversified assets. Constellation missed revenue estimates but operates nearly 90% carbon-free generation. Vistra missed revenue more dramatically, but completed acquisitions and started new builds.

Constellation carries a 0.41% dividend yield and trades at 41.17 times trailing earnings. Vistra authorized $1B in share repurchases through 2027, trading at 60.13 trailing P/E and 17.92 times forward earnings. Rising electricity demand benefits both companies through existing nuclear capacity and new gas plant construction.

Constellation trades at 32.15 times forward earnings, reflecting premium positioning. Vistra trades at 17.92 times forward earnings, despite projecting significant EBITDA growth. The valuation gap reflects different risk profiles, with institutional ownership higher for Vistra. Retirement planning isn’t just about investments but understanding the difference between accumulating and distributing assets. Many Americans can retire earlier after reworking their portfolios.

Read more at Yahoo Finance: Constellation Holds Margin Lead as Vistra Expands With Gas Plants and Buybacks