- Northland Power‘s Adjusted EBITDA for the third quarter was C$227.8 million, which is a 15% decrease compared to last year, and below the estimated C$246.4 million.
- The company’s sales amounted to C$490.5 million, marking a 4.4% decline year-over-year, and falling short of the estimated C$498.3 million.
- Offshore wind sales were reported at C$213 million, which did not meet the estimated C$220.8 million.
- Sales from onshore renewable facilities were C$116 million, a decrease of 1.7% compared to the previous year.
- The company reported a net loss of C$190.7 million, compared to a profit of C$43.0 million in the same period last year.
- Northland Power projects Adjusted EBITDA for 2024 to be between $1.2 billion and $1.3 billion.
- The company expects Adjusted Free Cash Flow per share for 2024 to range from $1.30 to $1.50.
- Projected Free Cash Flow per share for 2024 is expected to be between $1.10 and $1.30, demonstrating financial prudence.
- The third quarter results were affected by the Gemini cable outage and lower offshore wind production.
- Despite third quarter setbacks, Northland anticipates meeting full year guidance owing to strong first-half performance.
- Analysts’ consensus on Northland Power includes 12 buy ratings and 2 hold ratings, with no sell ratings.
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A look at Northland Power Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 4 | |
| Growth | 2 | |
| Resilience | 2 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Northland Power Inc., a company engaged in power generation across Canada, the United States, and Germany, has been assessed using Smartkarma Smart Scores. With a solid Value score of 4 and a commendable Dividend score of 4, Northland Power demonstrates financial stability and attractive dividend potential. However, its Growth and Resilience scores stand at 2, indicating room for improvement in terms of growth opportunities and market resilience. The Momentum score of 3 suggests a moderate level of market momentum for the company.
Summary: Northland Power Inc. operates power generation facilities utilizing clean natural gas and renewable energy sources such as solar, wind, and biomass. The company actively pursues new power generation projects to expand its portfolio and maintain competitiveness in the energy sector.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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