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It was a big month for the power producer as it reported its fourth-quarter financial results and secured another deal to supply electricity to a data center customer. That followed the acquisition of Calpine, which closed in January. Here's a closer look at what fueled its big move last month and whether investors should buy Constellation Energy stock now following its recent surge.Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue »Image source: Getty Images.Constellation Energy reported strong fourth-quarter results in late February. The power company generated nearly $6.1 billion of revenue and $2.30 per share of adjusted operating earnings. Both exceeded analysts' expectations (the consensus estimates were $5.6 billion in revenue and $2.25 per share in adjusted operating earnings). This expectation-beating report sent shares soaring. That capped an excellent year for Constellation Energy. Its full-year adjusted operating earnings increased from $8.64 per share to $9.39 per share, powered by favorable market and portfolio conditions. As a result, the company exceeded the mid-point of its earnings guidance range for the fourth straight year. Constellation Energy's strong momentum has continued in early 2026. The company closed its acquisition of Calpine in early January. That deal combined Calpine's leading natural gas and geothermal fleets with Constellation's industry-leading nuclear energy platform. That acquisition is already paying off for Constellation Energy. The company announced last month that Calpine has agreed to provide 380 megawatts (MW) of power to a new data center in Texas under development by CyrusOne. The data center developer will build the facility next to Constellation's Freestone Energy Center in Texas. The company also signed an exclusive agreement to provide an additional 380 MW of power to phase two of this project. Constellation Energy has now agreed to supply over 1.1 gigawatts (GW) of power to CyrusOne to support its growing data center platform. The deal with CyrusOne builds on Constellation Energy's recent success in securing power contracts with data center companies. It previously signed long-term agreements with Microsoft and Meta Platforms for nuclear power. 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