Calpine Reports Strong Third Quarter 2013 Results

Calpine Corporation (NYSE: CPN) today reported third quarter 2013 Adjusted EBITDA of $802 million, compared to $706 million in the prior year period, and Adjusted Free Cash Flow of $556 million, or $1.27 per diluted share, compared to $463 million, or $0.99 per diluted share, in the prior year period.

Net Income1 for the third quarter of 2013 was $306 million, or $0.70 per diluted share, compared to $437 million, or $0.94 per diluted share, in the prior year period.

Net Income, As Adjusted2, for the third quarter of 2013 was $268 million compared to $215 million in the prior year period. The increases in Adjusted EBITDA, Adjusted Free Cash Flow and Net Income, As Adjusted2, were driven primarily by higher Commodity Margin resulting from increased regulatory capacity payments, new contracts and higher contribution from hedges, partially offset by the net impact of portfolio changes.

http://phx.corporate-ir.net/phoenix.zhtml?c=103361&p=irol-newsArticle&ID=1873572&highlight=