Canada's Boralex Q1 revenue beats estimates on higher production

Boralex

14/05/2026 12:12

Overview

Canada renewable energy producer's Q1 revenue rose 22% yr/yr, beating analyst expectations

Q1 net earnings fell sharply due to non-recurring acquisition-related expenses

Company announced terms of proposed going-private deal, offering shareholders a 31.8% premium

Outlook

Boralex aims to double installed capacity by 2030 with C$8 bln in investments

Company continues to prepare for upcoming calls for tender in target markets

Result Drivers

HIGHER PRODUCTION - Co said Q1 production rose due to better wind conditions and newly commissioned sites

NEW PROJECTS COMMISSIONED - Commissioning of battery energy storage systems in Canada and the Limekiln wind farm in Scotland supported revenue growth

LOWER PRICES IN FRANCE - Lower short-term power purchase agreement prices in France partially offset gains from higher production and new sites

Company press release: ID:nGNX4JsdK6

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue from ordinary activities and government incentives
Beat
C$283 mln
C$257.33 mln (3 Analysts)
Q1 Net Income
C$9 mln
Q1 EBITDA
C$174 mln
Q1 Operating Income
C$92 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the electric utilities peer group is "buy."

Wall Street's median 12-month price target for Boralex Inc is C$37.25, about 0.9% above its May 13 closing price of C$36.92

The stock recently traded at 37 times the next 12-month earnings vs. a P/E of 21 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)