trending Market Intelligence /marketintelligence/en/news-insights/trending/rqdzrplg6wwjmx4_cl-8hg2 content esgSubNav
Log in to other products


Looking for more?

Contact Us
In This List

Northland Power Q1'18 results increase YOY


Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage


COVID-19 Impact & Recovery: Energy Outlook for H2 2021


Corporate renewables market flourished in 2020 despite pandemic


Corporate Credit Risk Trends in Developing Markets: A Loss Given Default (LGD) Perspective

Northland Power Q1'18 results increase YOY

Northland Power Inc. on May 9 reported first-quarter 2018 adjusted EBITDA of C$290.4 million, compared to adjusted EBITDA of C$198.1 million during the same period a year ago.

The S&P Capital IQ consensus EBITDA estimate for Northland Power in the first quarter was C$257.4 million.

The company's free cash flow for the quarter totaled C$148 million, or 84 Canadian cents per share, up from C$41.5 million, or 24 Canadian cents per share, recorded in the first quarter of 2017.

Net income for the first quarter of 2018 was C$178.0 million, or 61 Canadian cents per share, compared to net income of C$100.1 million, or 30 cents per share, a year ago.

Northland Power's sales for the quarter increased to C$486.4 million from C$364.1 million in the prior-year period, while gross profit rose to C$454.6 million from C$323.1 million, in the same period in 2017. Operating income also climbed to C$281.2 million from C$187.6 million in the previous year.

Northland Power's adjusted EBITDA guidance for 2018 remains in the range of C$860 million to C$930 million.

"Northland's Hai Long 2 offshore wind project in Taiwan was allocated 300 MW under Taiwan's feed-In tariff program, our operating assets are performing well, and construction on our Deutsche Bucht offshore wind project continues on schedule," Northland CEO John Brace said. "We achieved a 250% increase in free cash flow per share and a 47% increase in adjusted EBITDA over the same quarter last year."