TransAlta Corp. raised its financial outlook for the year as it reported a loss of $12 million in its second quarter.
The power producer says the net loss for the quarter ended June 30 amounted to four cents per diluted share compared with a net loss of $60 million or 22 cents per share a year ago.
Revenue totalled $619 million, up from $437 million in the same quarter last year.
Get daily National news
TransAlta says its comparable earnings before interest, taxes, depreciation and amortization amounted to $302 million for the quarter compared with $217 million in the same period in 2020.
- AI is creating a ‘two-track’ job market, report says. What it means for you
- Theft, crime hurting Spring Garden Road’s image, Halifax business association says
- Sectoral tariffs, not CUSMA, ‘focus’ of trade talks: Canadian envoy to U.S.
- World Cup economic impact takes shape as fans flood Toronto streets
In its revised outlook, the company says its comparable EBITDA for its full year is now estimated to be between $1.1 billion and $1.2 billion, up from an earlier forecast of between $960 million and $1.08 billion.
TransAlta also raised its estimate for free cash flow for the year to between $440 million and $515 million, up from an earlier estimate of between $340 million and $440 million.
Comments
Want to discuss? Please read our Commenting Policy first.