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Northland Power reports C$14.8M YOY increase in Q2 adjusted EBITDA

Northland Power Inc. on Aug. 8 reported second-quarter 2018 adjusted EBITDA of C$183.0 million, compared to C$168.2 million in the same quarter last year.

The S&P Global Market Intelligence consensus adjusted EBITDA estimate for the most recent quarter was C$212.3 million.

Free cash flow for the quarter totaled C$37.0 million, or 21 cents per share, down from C$99.7 million, or 57 cents per share, a year earlier.

The company reported net income for the quarter of C$69.0 million, or 29 cents per share, increasing from C$61.7 million, or 19 cents per share, a year ago.

Second-quarter sales increased to C$338.2 million from C$322.4 million in the prior-year period, while operating income dropped C$130.5 million from C$144.5 million in the same quarter of 2017.

Looking ahead, Northland Power continues to target full-year 2018 adjusted EBITDA in the range of C$860 million to C$930 million and free cash flow in the range of C$1.70 per share to C$2.00 per share.