UPDATE 1-Constellation Energy beats Q1 profit estimates on higher nuclear power generation

Constellation Energy beat first-quarter profit estimates on Thursday on increased nuclear power generation and tax credits related to the Inflation Reduction Act, officials with the Baltimore-based power company said on Thursday. Constellation, which is the largest operator of U.S. nuclear energy, also said it is considering adding new small modular reactors and other energy technologies on its existing sites to deliver electricity to large load customers like data centers. Customers of the possible new nuclear generation would fund the projects through long-term power purchase agreements, while Constellation would operate the units, the company said on its first-quarter earnings call.