Calpine Turns To Profit In Q4 - Quick Facts

(RTTNews) - Calpine Corp. (CPN) reported fourth-quarter net income to company of $210 million or $0.54 per share, compared to a loss of $97 million or $0.23 per share, prior year. Adjusted free cash flow per share was $0.24, for the quarter.

The company said the increase in earnings was primarily due to unrealized gains on power hedges driven by a decrease in forward power prices resulting from a decline in natural gas prices in December 2014.

Adjusted EBITDA for the fourth quarter of 2014 was $345 million compared to $399 million in the prior year period.

On average, four analysts polled by Thomson Reuters expected the company to report a loss per share of $0.05 for the quarter. Analysts' estimates typically exclude special items.

Revenues increased to $1.94 billion from $1.44 billion last year. Analysts expected revenue of $1.63 billion for the quarter.

The company reaffirmed its 2015 Guidance. Adjusted EBITDA is expected to be in the range of $1.90 billion - $2.10 billion. Adjusted free cash flow per share is expectd to be in the range of $2.10 - $2.60.