US Calpine slips to USD 33m net loss in Q2 2013

Jul 26, 2013 - US Calpine Corp (NYSE:CPN), a producer of power mainly from geothermal and natural gas-fired plants, today posted an adjusted second-quarter net loss of USD 33 million (EUR 24.9m) against a profit of USD 14 million a year earlier.

Earnings before interest tax, depreciation and amortisation (EBITDA) for the period fell to USD 343 million from USD 403 million in the second quarter of 2012.

The negative development was attributed to portfolio changes, which led to lower commodity margin, to the milder weather and to lower power generation.

According to Calpine's CEO Jack Fusco, the company is focused to "take advantage of the secular shift in the U.S. power generation industry to clean, efficient and dispatchable combined-cycle gas turbines".

Calpine affirmed its adjusted free cash flow per share for 2013 as it expects to overcome the headwinds from the first half of the year.

(USD 1 = EUR 0.75)

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