Corrected: Canada's Northland Power Q2 adjusted EBITDA misses estimates

Northland Power (Ontario)

13/08/2026 24:12

Corrects to remove "Adjusted" from Free Cash Flow metric in table

Overview
Canada power producer's Q2 revenue was flat yr/yr, adjusted EBITDA rose 6%
Free cash flow per share fell, mainly due to prior yr one-time tax refund
Company achieved first power at Baltic Power and expanded Hai Long agreements

Outlook
Northland Power maintains 2026 Adjusted EBITDA guidance of C$1.45 bln to C$1.65 bln
Company expects 2026 Free Cash Flow per share of C$1.05 to C$1.25
Company expects Gemini cable failure impact on 2026 results to be immaterial, net of insurance

Result Drivers
OFFSHORE WIND RESOURCE - Lower wind resource in Europe reduced production and revenue from offshore wind facilities
NEW PROJECT CONTRIBUTIONS - Higher adjusted EBITDA driven by contributions from Hai Long and Oneida energy storage projects
ONE-TIME TAX ITEM - Decline in free cash flow per share primarily due to absence of prior year one-time German tax refund

Company press release: ID:nGNXGDxhS

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Free Cash Flow
 
C$22.57 mln
 
Q2 EBIT
 
C$119.86 mln
Q2 Sales
Miss
C$509.86 mln
C$527.67 mln (3 Analysts)
Q2 Net Loss
 
C$53.51 mln
 
Q2 Adjusted EBITDA
Miss
C$258.88 mln
C$281.7 mln (8 Analysts)
Q2 Net Income Attributable
 
-C$61.84 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "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$26.00, about 19.2% above its August 11 closing price of C$21.81
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 16 three months ago

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Aug 11 - Romania's Hidroelectrica first-half net profit jumps 62% 

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.)