The earnings call highlighted successful long-term contract extensions, strategic project completions, and strong financial performance, reflecting Capital Power's disciplined execution and growth strategy. However, challenges such as lower results from specific assets and increased maintenance costs were noted.

Company Guidance

During the Capital Power Third Quarter 2025 Analyst Conference Call, the company provided a detailed overview of its financial and operational achievements. Notably, the company reported an adjusted EBITDA of $477 million for Q3, marking a 20% increase from the previous year, and an AFFO of $369 million, also up 20% year-over-year. For the first nine months of 2025, adjusted EBITDA reached $1.166 billion, a 15% increase compared to the same period last year, while AFFO totaled $882 million, up 40%. Capital Power also reaffirmed its 2025 guidance with expectations of adjusted EBITDA between $1.5 billion and $1.65 billion, AFFO between $950 million and $1.1 billion, and sustaining CapEx between $215 million and $245 million. The company highlighted significant strategic developments, including the extension of a long-term contract for the Midland Cogeneration Venture, which is expected to increase annual adjusted EBITDA by approximately USD 100 million starting in 2030. Additionally, the commissioning of Ontario battery storage projects and the financial integration of newly acquired PJM assets were emphasized as key accomplishments driving long-term shareholder value.

Successful Long-Term Contract Extensions

Capital Power executed a new long-term contract for the Midland Cogeneration Venture, extending the contract to 2040. This provides 10 years of incremental contracted revenue and increases annual adjusted EBITDA by roughly USD 100 million, representing an 85% increase over current contract pricing.

Strategic Battery Storage Projects in Ontario

Commissioned first two Ontario battery storage projects at York and Goreway, adding 170 megawatts of capacity contracted through 2047. These projects were delivered on time, under budget, with an excellent safety record, and are expected to add approximately $35 million in annual adjusted EBITDA over time.

Record Adjusted EBITDA Growth

Adjusted EBITDA for Q3 was $477 million, up approximately 20% from the same period last year, driven by strong contributions from the U.S. flexible generation portfolio.

Positive Financial Performance Year-to-Date

For the first nine months of 2025, adjusted EBITDA totaled $1.166 billion, 15% higher than the same period last year. AFFO for the same period was $882 million, up 40% year-over-year.

PJM Assets Performing Above Expectations

The Hummel Station and Rolling Hills facilities delivered a strong adjusted EBITDA contribution performing ahead of expectations with higher dispatch and strong pricing.

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
Mar 04, 2026	2025 (Q4)	0.75 / -	1.75	―	―	―
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)	―	―
Nov 01, 2023	2023 (Q3)	1.37 / 2.26	1.25	80.80% (+1.01)	―	―

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
Oct 29, 2025	C$70.60	C$71.54	+1.33%
Jul 30, 2025	C$61.62	C$57.38	-6.88%
Apr 30, 2025	C$49.61	C$51.18	+3.16%
Feb 26, 2025	C$50.40	C$49.39	-2.00%

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 Mar 04, 2026, Before Open (Confirmed).

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

Capital Power (TSE:CPX) earnings time is at Mar 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 2025 (Q4) is 0.75.

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