EarningsQ2 2026 Earnings Report
DE:2CP Q2 2026 EPS Results
Actual EPS-€0.21
Consensus EPS€0.27
Beat/MissMissed by -€0.48
One Year Ago EPS-€0.59
DE:2CP Q2 2026 Revenue Results
Actual Revenue€458.51M
Expected Revenue€522.23M
Beat/MissMissed by -€63.72M
YoY Revenue Growth+7.97%
Earnings Announcement Details
QuarterQ2 2026
Date07/29/2026
TimeBefore Open
Conference CallWednesday, July 29, 2026
DE:2CP Upcoming Earnings
Capital Power's next earnings date is estimated for November 2, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong commercial progress (notably the 250 MW Meta ESA), meaningful upgrades to the company’s embedded EBITDA upside (~$1.25B), double-digit YoY generation growth (+12% TWh) and solid quarter-over-quarter financial gains (Q2 adjusted EBITDA +9%, Q2 AFFO +39.6%). Management reaffirmed 2026 guidance, increased the dividend, and highlighted portfolio diversification and capacity upgrade milestones. Near-term headwinds include planned maintenance that weighed on U.S. flexible generation results, elevated sustaining capital and corporate/finance costs, modest solar project timing slips, and external regulatory/social uncertainties that could affect timing of development and recontracting. On balance, the positive commercial wins, financial improvements and expanded embedded upside materially outweigh the operational and timing challenges discussed.Company Guidance
250 MW Long-Term Energy Supply Agreement with Meta
Signed a >10-year energy supply agreement to provide 250 MW of capacity and energy commencing in H2 2028; converts merchant generation into long-duration contracted cash flows with no capital investment and without encumbering assets.
Embedded Adjusted EBITDA Upside Increased to ~$1.25B
Updated embedded annual adjusted EBITDA upside from ~$1.0 billion to ~ $1.25 billion (25% increase). Breakdown: ~$400M–$550M of contracted upside (legacy U.S. contracts expiring 2029–2032 and uprates) and ~$375M–$700M of merchant upside (PJM and stronger Alberta pricing expectations).
Q2 Financial Performance — Adjusted EBITDA and AFFO Growth
Q2 adjusted EBITDA of $351M, up $29M year-over-year (~+9.0%). Q2 AFFO of $328M, up $93M YoY (~+39.6%), benefiting from higher adjusted EBITDA and recognition of Canadian Clean Tech ITC grants.
Year-to-Date Financial Improvements
YTD adjusted EBITDA of $755M, up $66M YoY (~+9.6%); YTD AFFO of $482M, up $29M YoY (~+6.4%). Results driven by expanded PJM platform contribution and Clean Tech ITC recognition.
Guidance Reaffirmed and Dividend Increased
2026 guidance ranges reaffirmed: adjusted EBITDA $1.565B–$1.765B; AFFO $890M–$1.01B; sustaining capital $290M–$330M. Dividend increased by 2% for 2026 (13th consecutive annual increase), reflecting balanced returns despite lowering long-term growth rate guidance to 2%–4%.
Renewables and Portfolio Output Growth
North Carolina solar (East Windsor) nearing completion and commissioning; portfolio generation 10.1 TWh, up 12% YoY, with 60% of generation coming from U.S. fleet—reinforcing diversification strategy.
Capacity Upgrades and Operational Progress
Advancing capacity upgrades across WECC and PJM adding ~45 MW incremental capacity in 2026 and ~25 MW in 2027. Completed ~66% of planned outage days for the 2026 maintenance cycle, improving fleet reliability and efficiency.
DE:2CP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed