Overview

* Capital Power ( CPXWF ) Q3 net income declines to C$153 mln

* Adjusted EBITDA for Q3 was C$477 mln

* Company commissioned 170 MW of battery storage in Ontario

Outlook

* Capital Power ( CPXWF ) reaffirms 2025 guidance for Adjusted EBITDA and AFFO

* Company expects 40% increase in outage days for Canada flexible generation in 2026

* Capital Power ( CPXWF ) focuses on optimizing Alberta fleet and increasing Genesee capacity

Result Drivers

* MCV CONTRACT - New long-term contract for Midland Cogeneration Venture expected to provide revenue stability through 2040

* BATTERY STORAGE - Commissioned 170 MW of battery storage in Ontario, contracted through to 2047

* VPPA TERMINATION - Termination of virtual power purchase agreement with Saputo Inc. resulted in financial penalties, but impact expected to be minimal

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS C$0.94

Q3 Net C$153

Income mln

Q3 C$477

Adjusted mln

EBITDA

Q3 C$369

Adjusted mln

FFO

Q3 C$2.37

Adjusted

FFO Per

Share

Q3 Basic C$0.94

EPS

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the independent power producers peer group is "buy"

* Wall Street's median 12-month price target for Capital Power Corp ( CPXWF ) is C$73.00, about 3.3% above its October 28 closing price of C$70.60

* The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 16 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)