The 10-second takeaway
For the quarter ended March 31 (Q1), Calpine beat expectations on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue was unchanged. Non-GAAP loss per share increased. GAAP loss per share increased.
Margins shrank across the board.
Calpine reported revenue of $1.24 billion. The three analysts polled by S&P Capital IQ expected to see revenue of $1.18 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.
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 -$0.15. The seven earnings estimates compiled by S&P Capital IQ averaged -$0.16 per share. Non-GAAP EPS were -$0.15 for Q1 versus -$0.14 per share for the prior-year quarter. GAAP EPS were -$0.28 for Q1 against -$0.02 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 15.6%, much worse than the prior-year quarter. Operating margin was -0.3%, much worse than the prior-year quarter. Net margin was -10.1%, 940 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $1.26 billion. On the bottom line, the average EPS estimate is -$0.01.
Next year's average estimate for revenue is $5.75 billion. The average EPS estimate is $0.47.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 212 members out of 232 rating the stock outperform, and 20 members rating it underperform. Among 64 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 59 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 $22.46.
Is Calpine the right energy stock for you? Read about a handful of timely, profit-producing plays on expensive crude in "3 Stocks for $100 Oil." Click here for instant access to this free report.
- Add Calpine to My Watchlist.
Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.