Deutsche Bank Downgrades Calpine Corporation (CPN) to Hold

Calpine Reports Third Quarter Results, Narrows 2015 Guidance and Provides 2016 Guidance

October 30, 2015 6:00 AM EDT

HOUSTON--(BUSINESS WIRE)-- Calpine Corporation (NYSE: CPN):

Summary of Third Quarter 2015 Financial Results (in millions, except per share amounts):

    Three Months Ended September 30, Nine Months Ended September 30, 2015   2014   % Change 2015   2014   % Change   Operating Revenues $ 1,948 $ 2,187 (10.9

)

%

$ 5,036 $ 6,091 (17.3

)

%

Commodity Margin $ 974 $ 944 3.2 % $ 2,166 $ 2,221 (2.5

)

%

Adjusted EBITDA $ 791 $ 745 6.2 % $ 1,586 $ 1,604 (1.1

)

%

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