Calpine (NYSE: CPN ) reported earnings on July 25. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), Calpine beat expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. Non-GAAP earnings per share dropped to a loss. GAAP loss per share contracted.
Margins grew across the board.
Calpine chalked up revenue of $1.57 billion. The five analysts polled by S&P Capital IQ wanted to see revenue of $1.32 billion on the same basis. GAAP reported sales were 79% higher than the prior-year quarter's $879.0 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.07. The eight earnings estimates compiled by S&P Capital IQ predicted $0.06 per share. Non-GAAP EPS were -$0.07 for Q2 versus $0.03 per share for the prior-year quarter. GAAP EPS were -$0.16 for Q2 against -$0.70 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 20.0%, much better than the prior-year quarter. Operating margin was 7.3%, much better than the prior-year quarter. Net margin was -4.5%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $1.93 billion. On the bottom line, the average EPS estimate is $0.56.
Next year's average estimate for revenue is $6.64 billion. The average EPS estimate is $0.58.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 212 members out of 231 rating the stock outperform, and 19 members rating it underperform. Among 63 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 58 give Calpine a green thumbs-up, and five give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Calpine is outperform, with an average price target of $24.36.
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