Baltimore-based Constellation Energy Group saw its second quarter income rise 48 percent to $171.5 million from $116.3 million on strong performance in its Global Commodities division.
Earnings per share jumped to 95 cents per share, up from 64 cents per share during the same quarter last year.
“Second quarter results significantly exceeded expectations and reflect solid execution throughout the enterprise,” Constellation CEO, Chairman, and President Mayo Shattuck said in a statement.
“Our Global Commodities Group delivered strong new business results as rising commodity prices benefited our strategies in power, natural gas, and coal markets.”
Adjusted earnings per share of Baltimore Gas and Electric rose 1 cent to 9 cents per share from the second quarter of 2007. Constellation said the increase was due to a higher electricity transmission revenue.
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