Canada's Polaris Renewable Energy Q2 revenue falls on lower output

Polaris Renewable Energy

30/07/2026 12:58

Overview
Canada renewable energy operator's Q2 revenue and adjusted EBITDA declined yr/yr on lower production
Company posted a net loss for Q2, compared to a profit a year earlier
Lower output reflects higher curtailment in Dominican Republic and normalized hydrology in Peru and Ecuador

Outlook
Company expects closing of Puerto Rico battery storage agreement by Q3 2026
Polaris estimates Puerto Rico battery storage project CAPEX at $70 mln to $75 mln
Company maintains focus on quarterly dividend payments

Result Drivers
LOWER PRODUCTION - Decreased Q2 output due to higher curtailment in Dominican Republic and normalized hydrology in Peru and Ecuador
HIGHER ENERGY PRICES - Revenue decline partly offset by higher energy prices in Peru and Panama
CURTAILMENT IMPACT - Grid curtailment in Dominican Republic continued to significantly affect production

Company press release: ID:nACSCKNSfa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Net Loss
 
$848,000
 
Q2 Adjusted EBITDA
 
$13.67 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "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 Polaris Renewable Energy Inc is C$23.50, about 48.7% above its July 29 closing price of C$15.80
The stock recently traded at 68 times the next 12-month earnings vs. a P/E of 35 three months ago

Reuters Recommended Reads
July 30 - Austria's Verbund H1 revenue falls on lower hydropower output, prices
July 29 - Canada's Capital Power Q2 revenue and AFFO rise, net loss narrows 
July 29 - Renewables firm EDPR's recurring first-half profit jumps 33%, driven by US business

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(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.)