25.07.2013 16:18:50
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Calpine Q2 Loss Narrows, Cuts FY13 Adj. EBITDA View
(RTTNews) - Calpine Corp. (CPN) Thursday announced a narrower net loss of $70 million or $0.16 per share, compared to loss of $329 million or $0.69 per share last year. Adjusted net loss, for the quarter was $33 million compared to adjusted net profit of $14 million in the prior year period.
On average, 11 analysts polled by Thomson Reuters expected earnings per share of $0.03 for the quarter. Analysts' estimates typically exclude one-time items.
Revenue for the quarter surged to $1.57 billion from $879 million a year ago. The company recored an unrealised mark-to-market gain of $31 million in second quarter, in comparison with a loss of $302 million last year. Analysts were looking for revenue of $1.10 billion.
For the full year, the company expects adjusted EBITDA in a range of $1.80 billion to $1.875 billion, while in May, the company was expecting in a range of $1.80 billion to $1.96 billion.
The company now projects adjusted Free Cash Flow of $640 million to $715 million, an increase in the bottom end from its prior view and reaffirmed adjusted Free Cash Flow Per Share guidance of $1.50. The company said the current guidance reflect the weaker market conditions during the first half of the year.
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