CA - Northland Power GAAP EPS of C$0.01 revenue of C$471.55M; reaffirms FY23 outlook

August, 11 2023 01:37 AM CA Inc.

2023-08-11 01:37:47 ET

Northland Power press release ( OTCPK:NPIFF ): Q2 GAAP EPS of C$0.01.
Revenue of C$471.55M (-15.3% Y/Y).
Adjusted EBITDA decreased to C$232 million from C$335 million in 2022.
Adjusted Free Cash Flow per share decreased to C$0.25 from C$0.70 in 2022.
Free Cash Flow per share decreased to C$0.16 from C$0.63 in 2022.
Outlook: As of August 10, 2023, management’s 2023 financial outlook remains unchanged from prior guidance, albeit now at the lower end, as a result of the aforementioned regulatory changes in Spain. Adjusted EBITDA in 2023 is expected to be in the range of C$1.2 billion to C$1.3 billion, Adjusted Free Cash Flow per share in 2023 is expected to be in the range of C$1.70 to C$1.90 and Free Cash Flow per share in 2023 is expected to be in the range of C$1.30 to C$1.50. As discussed previously, the regulatory change impact is expected to reduce Adjusted EBITDA by approximately C$90 million and Adjusted Free Cash Flow and Free Cash Flow by C$75 million in 2023 due to the recent regulatory changes.

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