Capital Power Corp (TSX:CPX.PR.I.PFD)

C$ 24.98 (0%) Market Cap: - Enterprise Value: - PE Ratio: 11.79 PB Ratio: 1.64 GF Score: 87/100

Q4 2024 Capital Power Corp Earnings Call Transcript

Feb 26, 2025 / 04:00PM GMT

Transcript

Key Points

Positve

Capital Power Corp (CPXWF) achieved record annual generation of 38 terawatt hours in 2024, demonstrating strong operational performance.
The company completed the Genesee repowering project, transitioning to 100% natural gas, which increased capacity by 512 megawatts and reduced greenhouse gas emissions by 3.4 million tons annually.
Capital Power Corp (CPXWF) strategically sold two renewable assets for $333 million in pretax cash proceeds, optimizing its portfolio and enhancing financial stability.
The company's U.S. portfolio contributed significantly to financial performance, with adjusted EBITDA from U.S. assets increasing from $369 million in 2023 to $656 million in 2024.
Capital Power Corp (CPXWF) maintained a stable financial outlook with a highly hedged portfolio and long-term contracts, providing resilience against market volatility.

Negative

Lower generation and power prices in Alberta negatively impacted adjusted EBITDA, leading to a year-over-year decrease of $122 million.
The company faces challenges in navigating complex regulatory environments and stakeholder collaborations for data center projects, particularly in the U.S.
Capital Power Corp (CPXWF) experienced higher sustaining capital expenditures due to larger outage scopes and recent acquisitions.
The Alberta market is currently experiencing oversupply, which has led to lower power prices and could impact future profitability.
The company has not yet finalized any major data center projects, indicating potential delays or challenges in securing agreements.

Operator

Hello, and welcome to Capital Power fourth quarter and year-end 2024 analyst conference call (Operator Instructions)

I would now like to turn the conference over to Roy Arthur, Vice President, Strategic Planning and Investor Relations. Sir, you may begin.

Roy Arthur

Capital Power Corp - Vice President - Investor Relations

Good morning, everyone, and thank you for joining us to review Capital Power's achievements and financial performance for the fourth quarter and year-end 2024. Our presentation and the accompanying materials are available on our website at www.capitalpower.com.

Today's agenda includes business highlights and financial review, closing remarks and a Q&A session. Avik Dey, our President and CEO, will kick off today's presentation with our business highlights for the year, followed by Sandra Haskins, our SVP, Finance and CFO, who will present the financial review. Avik will then provide some closing remarks and open the door to questions from analysts.

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