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Boralex posts higher YOY Q2'19 EBITDA, beats analyst expectations

Boralex Inc. on Aug. 8 posted second-quarter 2019 EBITDA on a combined basis of C$103 million, improving from C$68 million in the same quarter of 2018.

The S&P Global Market Intelligence consensus EBITDA estimate for the quarter was C$97.4 million.

Net loss attributable to shareholders was C$13 million, or negative 14 Canadian cents per share, from a loss of C$28 million, or negative 36 cents per share, a year ago.

Revenues from energy sales grew to C$148 million, from C$110 million in the second quarter of 2018. Boralex produced 1,267 GWh of electricity, up from 909 GWh in the prior-year period.

"In addition to the contribution from sites acquired and commissioned in Canada and France, the improved results stem from significant production increases at our comparable wind farms in Canada and France, and at our hydroelectric power stations," Boralex President and CEO Patrick Lemaire said in an earnings release.

Net cash flow from operating activities was up year over year to C$124 million, from C$59 million a year ago.