Financials

Financial Highlights

Three Months Ended September 30, Nine Months Ended September 30,
($ in thousands except per share amounts) 2023 2022 2023 2022
Revenue 2,468 57,091 2,468 141,263
Net income (loss) (4,897) 23,970 8,818 49,433
Earnings (loss) per share – basic (0.10) 0.48 0.18 0.99
Earnings (loss) per share – diluted (0.10) 0.39 0.18 0.82
Adjusted EBITDA(1) (1,545) 39,739 19,174 74,413
Total generation – (MWh) 31,627 280,290 31,627 1,064,693
Total fuel consumption – (GJ) 436,985 2,943,544 459,492 11,242,662
Average Alberta market power price ($ per MWh) 151.60 221.41 162.00 145.11
Average realized power price ($ per MWh) 78.03 203.68 78.03 132.68
Total net debt (1) 37,695 6,873 37,695 6,873
Total assets 389,432 390,014 389,432 390,014

(1) Select financial information was derived from the consolidated financial statements and is prepared in accordance with GAAP, except adjusted Earnings before Interest, Income Taxes, Depreciation and Amortization (“Adjusted EBITDA”), which is a non-GAAP measure (see Non-GAAP and other Financial Measures in the Q3 2023 Management’s Discussion and Analysis). Net debt is included in the notes to the consolidated financial statements. It is calculated to include: loans and borrowings (including the convertible loan facility) less unrestricted cash.

Quarterly Reports

2023 Q1 Q2 Q3
2022 Q1 Q2 Q3
2021 Q1 Q2 Q3

Disclaimer