Hi
Yes, it does.
Active calories are reported via the Move ring in the Activity app and can also be viewed via the companion Activity and Health apps on the paired iPhone.
Total calories (active calories + resting calories = total calories) can be viewed via the Activity app on your iPhone:
On your iPhone, in the Activity app, go to: History (tab) > select a day > scroll down to the Move chart > swipe left on the chart to view Total calories.
Active and Resting calories can also be viewed via the Health app on your iPhone:
On your iPhone, in the Health app, go to: Health Data (tab) > Activity > Active / Resting Energy.
If you would like to submit a feature request to Apple in respect of being able to view total calories on your Apple Watch via the built-in apps, then you can do so here:
https://www.apple.com/feedback/watch.html
More information:
Use the Activity app on your Apple Watch - Apple Support
Use the Health app on your iPhone or iPod touch - Apple Support