NPIFF - Northland Power GAAP EPS of C$0.27 revenue of C$622M; reaffirms FY23 outlook

May, 10 2023 12:58 AM Northland Power Inc

2023-05-10 00:58:26 ET

Northland Power press release ( OTCPK:NPIFF ): Q1 GAAP EPS of C$0.27.
Revenue of C$622M (-10.5% Y/Y).
Adjusted EBITDA (a non-IFRS measure) decreased to C$352 million from C$420 million in 2022.
Adjusted Free Cash Flow per share (a non-IFRS measure) decreased to C$0.72 from C$0.84 in 2022.
Free Cash Flow per share (a non-IFRS measure) decreased to C$0.62 from C$0.77 in 2022.
As of May 9, 2023, management’s 2023 financial outlook remains unchanged from prior guidance . Adjusted EBITDA in 2023 is expected to be in the range of $1.2 billion to $1.3 billion, Adjusted Free Cash Flow per share in 2023 is expected to be in the range of $1.70 to $1.90 and Free Cash Flow per share in 2023 is expected to be in the range of $1.30 to $1.50. Adjusted Free Cash Flow excludes approximately $100 million (approximately $0.40 per share) in growth expenditures that support growth and new initiatives.

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