Calpine Misses on the Top and Bottom Lines
Calpine (NYS: CPN) reported earnings on April 27. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 31 (Q1), Calpine missed estimates on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted significantly and GAAP loss per share dropped.
Margins expanded across the board.
Calpine booked revenue of $1.24 billion. The six analysts polled by S&P Capital IQ looked for sales of $1.33 billion on the same basis. GAAP reported sales were 18% lower than the prior-year quarter's $1.50 billion.
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 -$0.14. The nine earnings estimates compiled by S&P Capital IQ forecast -$0.11 per share. GAAP EPS were -$0.02 for Q1 against -$0.61 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 31.0%, 1,820 basis points better than the prior-year quarter. Operating margin was 15.0%, 1,440 basis points better than the prior-year quarter. Net margin was -0.7%, 1,910 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $1.16 billion. On the bottom line, the average EPS estimate is -$0.07.
Next year's average estimate for revenue is $6.38 billion. The average EPS estimate is $0.29.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 215 members out of 229 rating the stock outperform, and 14 members rating it underperform. Among 76 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 70 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 $19.08.
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At the time this article was published 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 ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. 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.