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Microsoft/Meta Power Deals + Calpine Adding $2B FCF → 13%+ Earnings Growth Guided Through 2030

Constellation Energy locked in long-term power purchase agreements with Microsoft, Meta, and CyrusOne worth billions in committed revenue, cementing its position as the nation's largest nuclear operator with 55 gigawatts of capacity. Management guides 13%+ adjusted operating earnings growth through 2030, the Calpine deal adds $2B+ annual free cash flow, and dividends are growing 10% annually. The stock trades at $309.45 with 14 analysts rating Buy and average PT of $393.93, though shares fell 5.2% on March 11 when lower electricity prices in February CPI dampened near-term sentiment.