Calpine (NYSE: CPN) reported earnings on Nov. 6. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended Sep. 30 (Q3), Calpine beat expectations on revenues and beat slightly on earnings per share.

Compared to the prior-year quarter, revenue shrank and GAAP earnings per share grew significantly.

Margins expanded across the board.

Revenue details
 Calpine booked revenue of $2.00 billion. The five analysts polled by S&P Capital IQ predicted sales of $1.88 billion on the same basis. GAAP reported sales were 9.6% lower than the prior-year quarter's $2.21 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at $0.46. The eight earnings estimates compiled by S&P Capital IQ predicted $0.45 per share. GAAP EPS of $0.94 for Q3 were 141% higher than the prior-year quarter's $0.39 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 44.9%, 1,780 basis points better than the prior-year quarter. Operating margin was 35.0%, 1,690 basis points better than the prior-year quarter. Net margin was 21.9%, 1,330 basis points better than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $2.50 billion. On the bottom line, the average EPS estimate is -$0.01.

Next year's average estimate for revenue is $6.17 billion. The average EPS estimate is $0.33.

Investor sentiment
 The stock has a two-star rating (out of five) at Motley Fool CAPS, with 218 members out of 233 rating the stock outperform, and 15 members rating it underperform. Among 71 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 65 give Calpine a green thumbs-up, and six 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 $21.12.

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