Capital Power (CPX) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

May 04, 2026

Before Open (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

0.53

Last Year’s EPS

1.03

Same Quarter Last Year

Analyst Consensus

Strong Buy

Based on 6 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Mar 04, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call was overall positive: management reported record generation and strong cash-flow metrics (adjusted EBITDA up 18% and AFFO up 29% YoY), executed strategic acquisitions (2.2 GW in PJM), delivered major recontracts with material pricing uplifts (MCV +85% EBITDA impact, Arlington Valley +140% pricing), and highlighted significant embedded upside from recontracting and merchant price capture. Offsetting items include lower GAAP net income driven by non-cash adjustments, higher finance expense from growth-related borrowings, a reduction in Canadian renewables contribution, planned higher sustaining CapEx in 2026, and policy/market uncertainties in PJM and timing/permitting for some growth projects. Given the scale and magnitude of the operational and cash-flow wins relative to the limited near-term accounting and policy headwinds, the tone and substance of the call skew strongly positive.

Company Guidance

Capital Power reaffirmed its 2026 guidance, saying the outlook is supported by full‑year contributions from 2025 acquisitions, structural carry‑forwards and conservative market assumptions with disciplined hedging and capital allocation; management warned that sustaining capital will be higher than historical levels but said the company will still generate strong AFFO and support the dividend within its targeted payout ratio while maintaining an investment‑grade balance sheet. The call anchored guidance to 2025 results: adjusted EBITDA of $1.58 billion (+$237M, +18%), AFFO $1.07 billion (+$242M, +29%), record 45 TWh generation (52% U.S.), a 12 GW portfolio (4.8 GW long‑term contracted 2032–2047, 2.4 GW medium‑term expiring 2026–2031, 4.8 GW merchant), 2.2 GW acquired (PJM), 2 GW of contracts optimized, and 385 MW of upgrades/expansions (including 170 MW battery, 110 MW capacity upgrades and 105 MW East Windsor expansion). Management reiterated a 13–15% return target, noted commercial wins that materially improve cash flow (MCV recontract to 2040 adding ~ $100M of adjusted EBITDA annually, an ~85% price increase; Arlington Valley recontract to 2038 with a 35 MW up‑rate and ~140% price reset), and highlighted embedded upside of up to $1 billion of incremental adjusted EBITDA from recontracting and merchant price capture while maintaining a contracted floor (~60%, presently ~75%).

Material Growth in Capacity Through Acquisition

Acquired 2.2 GW of generation capacity via the PJM acquisition, diversifying the portfolio and increasing U.S. flexible generation exposure; acquisition performance (Hummel and Rolling Hills) delivered adjusted EBITDA ahead of expectations in the first two quarters under Capital Power ownership.

Record Annual Generation

Generated a record 45 TWh in 2025, with 52% of total generation coming from the U.S. portfolio, demonstrating successful geographic diversification and higher dispatch from U.S. assets.

Strong Financial Performance — Adjusted EBITDA

Full-year 2025 adjusted EBITDA of $1.58 billion, up $237 million or 18% year-over-year, driven primarily by higher contributions from U.S. flexible generation and structural improvements (acquisitions and lower emission costs).

Strong Financial Performance — AFFO

AFFO of $1.07 billion for 2025, up $242 million or 29% year-over-year, reflecting higher EBITDA and lower current income tax expense (partially offset by higher finance expense).

Commercial Wins with Significant Economic Upside (MCV and Arlington Valley)

MCV recontract extends to 2040 and is expected to generate an incremental ~ $100 million of adjusted EBITDA annually (an ~85% increase over prior contract pricing for the facility). Arlington Valley recontract extended summer tolling agreement through 2038, includes a 35 MW up-rate and reset pricing ~140% above the existing contract.

Asset Optimization and Upgrades

Optimized or upgraded 385 MW across the fleet (including 170 MW from two battery energy storage facilities in Ontario, 110 MW of capacity upgrades at York, Goreway and Arlington Valley, and advanced 105 MW expansion at East Windsor), and advanced/completed ~300 MW of new capacity.

Diversified Contracted Profile and Embedded Upside

Portfolio comprises 12 GW total capacity: 4.8 GW long-term contracted (2032–2047), 2.4 GW medium-term (2026–2031) and 4.8 GW merchant (primarily Alberta and PJM). Management highlights embedded upside on existing assets of up to $1 billion of adjusted EBITDA opportunity, driven by recontracting and merchant price capture.

Reaffirmed Guidance and Balance Sheet Focus

Reaffirmed 2026 guidance; emphasis on maintaining investment-grade balance sheet, disciplined capital allocation (supporting the dividend while reinvesting most cash flow), and a targeted return range of 13%–15%.

Leadership and Strategic Partnerships

Announced incoming CFO Kevin MacIntosh (30+ years in energy finance) to replace interim CFO Scott Manson; progressing an MOU with Apollo to expand acquisition capability while maintaining investment-grade metrics.

Capital Power (TSE:CPX) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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TSE:CPX Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 04, 2026	2026 (Q1)	0.53 / -	1.03	―	―	―
Mar 04, 2026	2025 (Q4)	0.69 / -0.12	1.75	-106.86% (-1.87)		―
Oct 29, 2025	2025 (Q3)	1.02 / 0.94	1.32	-28.79% (-0.38)	―	―
Jul 30, 2025	2025 (Q2)	0.50 / -0.92	0.51	-280.39% (-1.43)	―	―
Apr 30, 2025	2025 (Q1)	0.51 / 1.03	1.57	-34.39% (-0.54)	―	―
Feb 26, 2025	2024 (Q4)	0.82 / 1.75	0.74	136.49% (+1.01)	―	―
Oct 30, 2024	2024 (Q3)	0.93 / 1.32	2.26	-41.59% (-0.94)	―	―
Jul 31, 2024	2024 (Q2)	0.61 / 0.51	0.67	-23.88% (-0.16)	―	―
May 01, 2024	2024 (Q1)	0.73 / 1.57	2.38	-34.03% (-0.81)	―	―
Feb 28, 2024	2023 (Q4)	0.74 / 0.74	0.7	5.71% (+0.04)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

TSE:CPX Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Mar 04, 2026	C$62.66	C$61.53	-1.80%
Oct 29, 2025	C$70.60	C$71.54	+1.33%
Jul 30, 2025	C$61.62	C$57.38	-6.87%
Apr 30, 2025	C$49.61	C$51.18	+3.17%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Capital Power (TSE:CPX) report earnings?

Capital Power (TSE:CPX) is schdueled to report earning on May 04, 2026, Before Open (Confirmed).

What is Capital Power (TSE:CPX) earnings time?

Capital Power (TSE:CPX) earnings time is at May 04, 2026, Before Open (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is TSE:CPX EPS forecast?

TSE:CPX EPS forecast for the fiscal quarter 2026 (Q1) is 0.53.