Want to see TSE:CPX full AI Analyst Report?
Earnings Data
Report Date
Aug 05, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.46Last Year’s EPS
-0.92Same Quarter Last Year
Strong Buy
Based on 7 Analysts Ratings
Earnings Call Summary
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
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.
TSE:CPX Earnings History
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 |
|---|---|---|---|
Apr 29, 2026 | C$67.49 | C$62.37 | -7.59% |
Mar 04, 2026 | C$61.99 | C$60.88 | -1.80% |
Oct 29, 2025 | C$69.03 | C$69.95 | +1.33% |
Jul 30, 2025 | C$60.25 | C$56.11 | -6.87% |
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 Aug 05, 2026, Before Open (Confirmed).
What is Capital Power (TSE:CPX) earnings time?
Capital Power (TSE:CPX) earnings time is at Aug 05, 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 (Q2) is 0.46.