Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Calpine Reports Profit For Q2; Confirms Annual Outlook - Quick Facts

RELATED NEWS
Trade CPN now with 

Calpine Corp. (CPN: Quote), an utility company with natural gas-fired and geothermal power plants, Friday reported a profit for the second quarter, compared with loss last year, on the back of significant growth in revenue. The company also reaffirmed its annual earnings outlook.

For the three months to June, the company reported net profit of $139 million or $0.33 per share, compared with a loss of $70 million or $0.16 per share a year earlier.

"Our strong second quarter results reflect ongoing portfolio management, effective hedging and operational excellence," said Thad Hill, CEO of Calpine.

On average, seven analysts polled by Thomson-Reuters estimated the company's loss to be $0.02 for the quarter. Analysts' estimates typically exclude one-time items.

Adjusted EBITDA totaled $413 million, compared with $343 million in the same period last year.

Quarterly operating revenues rose to $1.94 billion, from $1.57 billion last year, above the $1.40 billion Wall Street expected.

For the full-year, the company expects earnings of $1.85 to $2.10 per share.

Click here to receive FREE breaking news email alerts for Calpine Corp. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Stocks moved notably higher over the course of the trading day on Monday, extending the strong upward move seen last Friday. The gains on the day continued the recent recovery by the markets, with the Nasdaq and the S&P 500 closing higher for the third consecutive session. While Republicans have largely tried to frame the upcoming midterm elections as a referendum on President Barack Obama, Sen. Ted Cruz, R-Tex., has joined the few offering guidance on what the GOP will do if it manages to retake control of the Senate. The World Health Organization (WHO) Monday declared that Nigeria is officially free of Ebola virus transmission. For the last six weeks, no new cases of the deadly virus infection has been reported in the country. The lines on the tabular situation reports, sent to WHO each day by its country office in Nigeria, have now been full of zeros for 42 days. If two incubation periods of 21 days pass
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.