Canada's Northland Power Q4 revenue beats expectations on higher international production

Northland Power (Ontario)

26/02/2026 24:26

Overview

Canada power producer's Q4 revenue rose, beating analyst expectations

Quarterly adjusted EBITDA beat estimates, driven by record wind production across German offshore assets

Company introduced new strategy targeting to double gross operating capacity by 2030

Outlook

Northland Power expects 2026 adjusted EBITDA of C$1.45 bln - C$1.65 bln

Company anticipates 2026 free cash flow of C$1.05 - C$1.25 per share

Northland Power targets doubling operating capacity to 7 GW by 2030

Result Drivers

RECORD WIND PRODUCTION - Record high wind production in German offshore wind assets boosted Q4 results

CONSTRUCTION PROGRESS - Continued advancement on Baltic Power and Hai Long offshore wind projects, expected to drive future growth

BATTERY STORAGE EXPANSION - Expanded battery energy storage system pipeline with new projects in Poland

Company press release: ID:nGNEbMM7cT

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Sales
Beat
C$722.84 mln
C$674 mln (3 Analysts)
Q4 Net Income
C$289.82 mln
Q4 Adjusted EBITDA
Beat
C$389.52 mln
C$373.46 mln (8 Analysts)
Q4 Adjusted Free Cash Flow
C$121.40 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the independent power producers peer group is "buy"

Wall Street's median 12-month price target for Northland Power Inc (Ontario) is C$23.00, about 14.9% above its February 25 closing price of C$20.02

The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 16 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.)