Capital Power Corp

CPX

Equity

ISIN CA14042M1023 / Valor 10300058

Toronto Stock Exchange (2024-12-24)

CAD 64.02+0.80%

Capital Power Corp
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About company

Capital Power Corp is a North American power producer that strategically analyzes, sources, and optimizes energy usage for power users in Canada and the U.S. The company offers a variety of tools to help businesses manage energy use, minimize costs, and increase efficiency. Their Energy Marketing team provides full- and self-retail services, including invoicing, energy management, budget forecasting, and market-related information. Capital Power Corp owns approximately 9,300 MW of power generation capacity at 32 facilities, focusing on the development, acquisition, ownership, and safe operation of renewable and thermal power generation facilities. As a publicly traded company headquartered in Edmonton, Alberta, they are committed to delivering reliable and affordable power while building a sustainable future for communities across North America.

Summarized from source with an LLMView SourceSector: Energy

Record Generation and EBITDA

In the third quarter of 2024, Capital Power Corp achieved a record quarterly generation of 11 TWh across its fleet, significantly driven by high dispatch at its U.S. flexible generation facilities. The company reported an adjusted EBITDA of $401 million, highlighting the strong performance and diversification benefits from its newly acquired U.S. assets.

Net Income and Cash Flow

Capital Power Corp reported a net income of $178 million for Q3 2024. The company also generated adjusted funds from operations (AFFO) of $315 million and net cash flows from operating activities amounting to $236 million, reflecting robust financial health and operational efficiency during the quarter.

Strategic U.S. Contributions

For the first time, over 50% of Capital Power Corp's adjusted EBITDA in Q3 2024 was contributed by its U.S. facilities. This underscores the success of the company's geographic diversification strategy, with significant contributions from newly acquired assets in California, Arizona, and Washington.

Dividend Increase

Capital Power Corp's Board of Directors approved a 6% increase in the annual dividend for common shareholders, raising it from $2.46 to $2.61 per share. This increase commenced with the third quarter 2024 dividend payment, reflecting the company's commitment to returning value to its shareholders.

Medium Term Notes Offering

In September 2024, Capital Power Corp successfully closed a $600 million medium term note offering, marking the company's largest single tranche to date. The proceeds are intended for refinancing existing indebtedness and supporting general corporate purposes, demonstrating the company's strategic approach to balance sheet optimization.

Summarized from source with an LLMView Source

Key figures

69.7%1Y

60.6%3Y

83.3%5Y

Performance

21.2%1Y

20.5%3Y

28.8%5Y

Volatility