Calpine Narrows 2015 Guidance, Provides 2016 Guidance

(RTTNews) - Calpine Corp. (CPN) announced the company now now expects its 2015 adjusted EBITDA of $1.965 billion to $2.0 billion and adjusted free cash flow of $825 million to $860 million, or $2.25 to $2.35 per share. In July, the company projected its adjusted EBITDA to be $1.95 billion to $2.05 billion, adjusted free cash flow of $840 million to $940 million and adjusted free cash flow per share of $2.20 to $2.50 for fiscal 2015. The company introduced its 2016 adjusted EBITDA guidance of $1.8 billion to $1.95 billion, and adjusted free cash flow of $710 million to $860 million, or $2.00 to $2.40 per share.

For the third-quarter, the company reported adjusted EBITDA of $791 million, compared to $745 million in the prior year period. Adjusted free cash flow was $576 million, or $1.61 per share, compared to $506 million, or $1.26 per share, in the prior year period.