Last $21.46 USD
Change Today -0.15 / -0.69%
Volume 2.9M
CPN On Other Exchanges
Symbol
Exchange
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As of 8:04 PM 02/26/15 All times are local (Market data is delayed by at least 15 minutes).

calpine corp (CPN) Snapshot

Open
$21.61
Previous Close
$21.61
Day High
$21.75
Day Low
$21.37
52 Week High
11/10/14 - $24.37
52 Week Low
03/3/14 - $18.77
Market Cap
8.1B
Average Volume 10 Days
3.9M
EPS TTM
$1.18
Shares Outstanding
376.2M
EX-Date
--
P/E TM
18.3x
Dividend
--
Dividend Yield
--
Current Stock Chart for CALPINE CORP (CPN)

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calpine corp (CPN) Details

Calpine Corporation, a wholesale power generation company, owns and operates natural gas-fired and geothermal power plants in North America. It operates natural gas-fired combustion turbines and renewable geothermal conventional steam turbines. The company sells wholesale power, steam, capacity, renewable energy credits, and ancillary services to utilities, independent electric system operators, industrial and agricultural companies, retail power providers, municipalities, power marketers, and others. As of December 31, 2014, it owned and operated 88 power plants, including 1 under construction with an aggregate generation capacity of 26,548 megawatts and 309 megawatts under construction. Calpine Corporation was founded in 1984 and is based in Houston, Texas.

2,052 Employees
Last Reported Date: 02/13/15
Founded in 1984

calpine corp (CPN) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $694.5K
Executive Chairman
Total Annual Compensation: $1.3M
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $588.8K
Chief Legal Officer, Executive Vice President...
Total Annual Compensation: $808.0K
Chief Accounting Officer and Senior Vice Pres...
Total Annual Compensation: $401.2K
Compensation as of Fiscal Year 2013.

calpine corp (CPN) Key Developments

Calpine Corp. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Reaffirms Earnings Guidance for the Year 2015

Calpine Corp. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. The company reported fourth quarter 2014 adjusted EBITDA of $345 million, compared to $399 million in the prior year period. Net income attributable to company for the fourth quarter of 2014 was $210 million, or $0.54 per diluted share, compared to a net loss attributable to company of $97 million, or $0.23 per diluted share, in the prior year period. The increase in net income was primarily due to unrealized gains on power hedges driven by a decrease in forward power prices resulting from a decline in natural gas prices in December 2014. Adjusted net loss was $50 million compared to adjusted net income of $21 million in the prior year period. Operating revenues were $1,939 million against $1,438 million reported last year. Income from operations was $390 million against $151 million reported last year. Income before income taxes was $231 million against loss before income taxes of $103 million reported last year. Major maintenance expense and capital expenditures was $84 million against $89 million reported last year. Adjusted free cash flow was $95 million against $126 million reported last year. Diluted adjusted free cash flow per share was $0.24 against $0.29 reported last year. Full year 2014 adjusted EBITDA was $1,949 million, compared to $1,830 million in the prior year period. Net income attributable to company in 2014 was $946 million, or $2.31 per diluted share, compared to $14 million, or $0.03 per diluted share, in the prior year period. The increase in net income was primarily due to a gain on asset sale, as well as higher Commodity Margin. Adjusted net income was $309 million compared to $186 million in the prior year period. Operating revenues were $8,030 million against $6,301 million reported last year. Income from operations was $1,989 million against $874 million reported last year. Income before income taxes was $983 million $20 million reported last year. Cash flows provided by operating activities in 2014 resulted in net inflows of $854 million compared to $549 million in the prior year period. Purchases of property, plant and equipment was $492 million against $575 million reported last year. Adjusted free cash flow was $830 million against $677 million reported last year. Diluted adjusted free cash flow per share was $2.03 against $1.52 reported last year. The company reported 2014 results its continued financial strength, delivering record adjusted EBITDA, adjusted free cash flow and adjusted free cash flow per share. These results were largely driven by stellar operating performance during the polar vortex at the beginning of the year, effective hedging, along with accretive and disciplined capital allocation. For the year 2015, the company reaffirmed earnings guidance. For the year, the company expects adjusted EBITDA to be in the range of $1,900 million - 2,100 million, adjusted free cash flow to be in the range of $810 million - 1,010 million, diluted per share to be in the range of $2.10 - 2.60 and GAAP net income to be in the range of $295 to $495 million.

Calpine Concludes Offering of USD 650 Million Senior Unsecured Notes

Calpine Corp. disclosed on February 3, 2015 the completion of its public offering of USD 650 million in aggregate principal amount of its 5.500% senior unsecured notes due 2024. After deducting underwriting discounts and estimated expenses, the company has raised aggregate net proceeds of approximately USD 641 million. According to the company, it plans to use up to USD 150 million of the net proceeds to repurchase a portion of its 7.875% senior secured notes due 2023 and the remaining to replenish cash on hand used for the acquisition of Fore River Energy Center in the fourth quarter of 2014 as well as for general corporate purposes.

Calpine Corp. Intends to Offer $500,000,000 in Aggregate Principal Amount of Senior Unsecured Notes Due 2024

Calpine Corporation announced that it intends to offer $500,000,000 in aggregate principal amount of Senior Unsecured Notes due 2024 pursuant to the Company's shelf registration statement filed with the Securities and Exchange Commission. Calpine Corporation intends to use the net proceeds from this offering to replenish cash on hand used for the acquisition of Fore River Energy Center in the fourth quarter of 2014, and for general corporate purposes.

 

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CPN

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Valuation CPN Industry Range
Price/Earnings 9.4x
Price/Sales 1.1x
Price/Book 2.4x
Price/Cash Flow 5.2x
TEV/Sales NM Not Meaningful
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