Boralex Inc

BLX

Equity

ISIN CA09950M3003 / Valor 621195

Toronto Stock Exchange (2024-12-24)

CAD 29.21+0.62%

Boralex Inc
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About company

Boralex Inc. is a company that specializes in the development, construction, and operation of renewable energy power facilities, primarily in wind, hydroelectric, thermal, and solar sectors.

Summarized from source with an LLMView SourceSector: Energy

Net Earnings Increase

Boralex Inc. reported a substantial 62% increase in net earnings for the first quarter of 2024, reaching $73 million. This significant growth is primarily attributed to higher wind farm production in North America, the contribution from newly commissioned facilities, and an optimized strategy for electricity selling prices in France.

Revenue Decline

For the first quarter of 2024, Boralex Inc. recorded revenues from energy sales and feed-in premiums amounting to $259 million, which is a 13% decrease compared to the same period in 2023. The decline in revenue was mainly due to lower selling prices in France.

EBITDA(A) Growth

Boralex Inc. achieved an EBITDA(A) of $195 million in the first quarter of 2024, marking a 17% increase from the first quarter of 2023. This growth reflects the company's strong operational performance, including higher production in North America and the commissioning of new facilities.

Operating Income

Operating income for Boralex Inc. in the first quarter of 2024 was $106 million, up from $77 million in the same quarter of 2023. The increase in operating income is largely due to improved production and strategic initiatives to optimize electricity selling prices.

Dividend Declaration

Boralex Inc.'s Board of Directors has declared a quarterly dividend of $0.1650 per common share, payable on June 17, 2024, to shareholders of record as of May 31, 2024. This dividend is designated as an "eligible dividend" under Canadian tax legislation.

Summarized from source with an LLMView Source

Key figures

-12.2%1Y

-17.0%3Y

17.6%5Y

Performance

26.5%1Y

28.7%3Y

34.3%5Y

Volatility