Calpine Corporation (CPN), a wholesale power generation company, Thursday reported a wider loss for the first quarter, driven primarily by lower Commodity Margin, largely as a result of changes in the company's portfolio, a move towards seasonal hedging in 2013 compared to annual hedging in 2012 and lower generation due to the reversal of coal-to-gas switching that occurred during the first quarter of 2012.
For the three-month period, the company reported a net loss of $125 million or $0.10 per share, compared with a loss of $9 million or $0.02 per share during the same period prior year.
The firm reported adjusted net loss of $70 million for the quarter. Adjusted EBITDA for the quarter was $286 million compared with $325 million during the same period prior year.
On average, nine analysts polled by Thomson Reuters expected loss per share of $0.12 for the quarter. Analysts' estimates typically exclude one-time items.
The company reported operating revenues of $1.24 billion compared to $1.23 billion reported during the comparable period last year. The Street expected the firm to report $1.08 billion for the quarter.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.