Core Insights - Capital Power Corporation announced the retirement of CFO Sandra Haskins after 23 years, effective December 31, 2025, with Scott Manson transitioning to Interim CFO [3][4] - The company reaffirmed its 2025 guidance for Adjusted EBITDA, AFFO, and Sustaining Capital despite updates to planned outages and project delays [5] Financial Highlights - For Q3 2025, Capital Power generated Adjusted EBITDA of $477 million, net income of $153 million, and AFFO of $369 million [6][11] - Revenues for Q3 2025 were reported at $1,213 million, an increase from $1,030 million in Q3 2024 [11] - The company secured a new long-term contract for the Midland Cogeneration Venture (MCV) through to 2040, expected to generate an additional $140 million in annual adjusted EBITDA [6][17] Operational Highlights - Capital Power's electricity generation for Q3 2025 was 13,374 GWh, up from 11,001 GWh in Q3 2024, with facility availability at 93% [11] - The company commissioned 170 MW of battery storage in Ontario, contracted through to 2047, enhancing its portfolio of flexible generation sources [6][16] - A new $600 million revolving credit facility was negotiated, maturing in 2027, to enhance liquidity [6][22] Strategic Developments - The company is focused on strengthening its U.S. platform and expanding contracted cash flows, with a commitment to stable, contracted cash flows and long-term value creation for shareholders [4][6] - Capital Power is actively engaged in optimizing its Alberta fleet and plans to update on the timing and capacity of incremental generation from its Genesee site [7][12] - The company is exploring a potential data center development adjacent to the MCV facility, which could add 250 MW of power under a long-term agreement [19]

Core Insights - Capital Power Corporation has successfully completed the acquisition of Hummel Station and Rolling Hills facilities, marking a significant milestone in its growth strategy and enhancing its position in North America's largest power market [3][6][13] - The company reported a net loss of $131 million for the second quarter of 2025, compared to a net income of $76 million in the same period of 2024, indicating challenges despite operational growth [11][26] - Adjusted funds from operations (AFFO) for the quarter reached $235 million, up from $178 million year-over-year, reflecting improved cash generation capabilities [11][28] Financial Performance - For the three months ended June 30, 2025, Capital Power generated revenues of $441 million, a decrease from $774 million in the same quarter of 2024 [11] - Adjusted EBITDA for the quarter was $322 million, slightly down from $323 million in the previous year, while for the six months ended June 30, 2025, it increased to $689 million from $612 million [11][9] - The company reported net cash flows from operating activities of $143 million for the quarter, compared to $136 million in the same period of 2024 [11] Strategic Initiatives - The acquisition of Hummel Station and Rolling Hills added approximately 2.2 GW of flexible generation capacity to Capital Power's portfolio, enhancing its U.S. footprint [3][6][20] - The company has increased its annual common share dividend by 6%, marking the 12th consecutive year of dividend growth [6] - Capital Power executed a $1.7 billion private offering of senior notes and raised $667 million in equity capital to partially finance the acquisition [15][17] Operational Highlights - Electricity generation for the quarter was 9,022 GWh, an increase from 8,603 GWh in the same quarter of 2024, indicating improved operational efficiency [11] - Generation facility availability was reported at 93% for the quarter, up from 91% in the same period of 2024 [11] - The company has commenced construction on two solar projects in North Carolina, with expected commercial operation between Q4 2026 and Q1 2027 [6]