Amidst increasing support from the Trump administration for nuclear power, the U.S. stock market’s nuclear energy fervor continues to intensify. S&P 500 nuclear giants Constellation Energy (CEG) and Vistra (VST) will report their second-quarter earnings on Thursday. These two nuclear power stocks surged 91% and 258% respectively last year and have maintained gains of over 50% so far this year.
The nuclear energy sector has become a market focus this year, with the VanEck Uranium and Nuclear ETF (NLR) climbing 40%. After Monday’s market close, nuclear technology company BWX Technologies (BWXT) reported results far exceeding analyst expectations, driving its stock price up 17% on Tuesday and lifting the broader nuclear sector broadly higher.
According to FactSet data, analysts predict Vistra’s Q2 earnings per share will increase 25-88 cents, with revenue expected to grow 23% to $4.74 billion. Constellation Energy’s earnings per share are forecast at $1.84, a 9.5% year-over-year increase, on revenue of approximately $4.91 billion. Furthermore, both companies reaffirmed their full-year financial forecasts in May. Constellation Energy maintained its 2025 adjusted EPS guidance of $8.90-$9.60, while Vistra confirmed its full-year adjusted profit expectation of $5.5-$6.1 billion.
On Tuesday, Constellation Energy announced it would hold its quarterly dividend steady at 39 cents per share. The same day, regulatory filings revealed that the Qatar sovereign wealth fund, the Qatar Investment Authority (QIA), has acquired a 5.5% stake in Vistra, placing it among the stock’s top three shareholders.
This nuclear earnings season coincides with significant policy tailwinds for the U.S. nuclear industry.
According to a Monday report by Politico, Transportation Secretary Sean Duffy, who is also serving as acting NASA administrator, will announce plans this week to build a nuclear reactor on the moon. The Trump administration has directed NASA to solicit industry proposals for a 100-kilowatt nuclear reactor targeted for launch by 2030 (NASA had originally planned to deploy a 40-kilowatt reactor in the early 2030s).
In late May, Trump signed four executive orders to support the nuclear energy industry and ordered a “complete and total reform” of the Nuclear Regulatory Commission (NRC).
