logo
Share SHARE
FONT-SIZE Plus   Neg

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

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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Apple will unveil its Apple Watch with a battery that may last only 2.5 to 4 hours on very active use, according to a report in 9to5mac. "People with knowledge of the Apple Watch's development have provided us with the specific performance targets Apple wants to achieve for the Apple Watch battery,... HARMAN International Industries, Inc. (HAR) announced it has signed an agreement with Symphony Technology Group to acquire Symphony Teleca, a privately-held global software services company. Check out this story for a look at some of We are just a few weeks into 2015 and it has already been a busy year for merger deals and merger talks. Here is a list of some of the M&A stories that have made headlines so far in 2015.
comments powered by Disqus
RELATED NEWS
Trade CPN now with 
Follow RTT