Capital Power Q1 Earnings Call Highlights

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Sat, May 2, 2026 astatine 4:06 PM CDT 7 min read

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Key Points

Portfolio resilience & leadership: Capital Power reiterated a stable, diversification-focused strategy crossed geographies, markets and technologies, reporting ~11.5 TWh generated successful Q1 (more than fractional from the U.S.) and announcing elder changes including Kevin MacIntosh arsenic CFO and Andrew Pearson arsenic SVP, U.S. Commercial.
Contracting and maturation runway: Management highlighted the Arlington Valley declaration hold to 2038, 4 afloat contracted projects (~280 MW) nether construction, and astir CAD 170 million of contracted EBITDA realized toward a stated CAD 1 billion embedded upside, with astir 7 GW targeted for (re)contracting.
Financial results & guidance: Q1 adjusted EBITDA was CAD 404 million (up CAD 37m) portion AFFO fell to CAD 154 million (down CAD 64m); the institution reaffirmed 2026 guidance, expects sustaining capex of CAD 290–330 million, says ~75% of 2026 currency travel is secured, and plans a 2% dividend summation taxable to committee approval.
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Capital Power (TSE:CPX) executives utilized the company’s first-quarter 2026 net telephone to stress portfolio resilience, diversification, and what absorption described arsenic a increasing runway for worth instauration done recontracting, upgrades, and disciplined concern crossed North American powerfulness markets.

Management highlights unchangeable strategy and diversification

President and CEO Avik Dey told analysts the company’s “business remains stable” contempt macro and geopolitical uncertainty, adding that Capital Power’s strategy successful North America is unchanged. Dey highlighted diversification crossed geographies, energy markets, and technologies arsenic a cardinal risk-mitigation lever, and reiterated a accordant attack to superior allocation focused connected “compelling risk-adjusted returns.”

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Dey besides outlined enactment updates, noting that Kevin MacIntosh has assumed the relation of Senior Vice President, Finance and Chief Financial Officer. He added that Andrew Pearson joined the enforcement squad arsenic Senior Vice President, U.S. Commercial, based successful a recently opened Washington, D.C. office. Dey said Steve Owens volition discontinue effectual July 1, 2026, and that Mike Korus volition articulation the enforcement squad arsenic Senior Vice President and Chief Commercial Officer successful Edmonton.

Operationally, Dey said the fleet generated astir 11.5 terawatt-hours during the quarter, with “more than half” of procreation coming from the U.S. portfolio. He added that planned outages are progressing connected schedule.

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