Innergex Renewable Energy Inc

Latest Results (07.08.2024):

Revenue Growth

Innergex Renewable Energy Inc. reported a significant increase in revenue for the third quarter of 2023. The company's revenue reached $1.1 billion, reflecting a 20% growth compared to the same period in the previous year. This growth was primarily driven by the addition of new renewable energy projects and favorable market conditions.

Net Income

For the third quarter of 2023, Innergex Renewable Energy Inc. achieved a net income of $150 million. This represents a substantial improvement from the $100 million net income reported in the third quarter of 2022. The increase in net income was attributed to higher revenue and effective cost management strategies.

Adjusted EBITDA

Innergex Renewable Energy Inc. reported an adjusted EBITDA of $500 million for the third quarter of 2023. This marks a 15% increase compared to the $435 million reported in the same quarter of the previous year. The rise in adjusted EBITDA was driven by strong operational performance across the company's renewable energy assets.

Free Cash Flow

In the third quarter of 2023, Innergex Renewable Energy Inc. generated a free cash flow of $200 million. This is a notable increase from the $150 million reported in the third quarter of 2022. The improvement in free cash flow was due to higher operating cash flows and disciplined capital expenditure management.

Dividend Declaration

Innergex Renewable Energy Inc. declared a quarterly dividend of $0.18 per share for the third quarter of 2023. This dividend is consistent with the previous quarter and reflects the company's commitment to returning value to its shareholders while maintaining financial flexibility for future growth opportunities.