Northland Power Inc

NPI

Equity

ISIN CA6665111002 / Valor 12218506

Toronto Stock Exchange (2024-12-24)

CAD 18.24+1.11%

Northland Power Inc
UMushroom community rating:

0.00 0 votes No rating yet

NegativeNeutralPositive

About company

Northland Power Inc, established in 1987, is one of Canada's pioneering independent power producers with a strong global presence. Headquartered in Toronto, Canada, the company owns or has an economic interest in a significant portfolio of operating generating capacity and development opportunities across various regions. Northland is dedicated to developing, building, owning, and operating clean and green power infrastructure assets, producing electricity from natural gas and renewable resources such as wind and solar. With over 35 years of experience in the industry, the company's senior leadership and management bring a wealth of knowledge and expertise to the table, overseeing a team of 1,339 employees working across different locations worldwide.

Summarized from source with an LLMView SourceSector: Energy

Revenue Growth

Northland Power Inc. reported a significant increase in sales for the first quarter of 2024, reaching $755 million, up from $622 million in the same quarter of 2023. This growth was primarily driven by higher wind resources across all offshore wind facilities and contributions from the New York onshore wind projects that commenced operations in October 2023.

Gross Profit

Gross profit for Northland Power Inc. in the first quarter of 2024 rose to $697 million, compared to $569 million in the first quarter of 2023. The increase in gross profit was largely attributed to the enhanced performance of their offshore wind facilities and the new onshore wind projects in New York.

Net Income

Northland Power Inc. saw its net income increase to $149 million in the first quarter of 2024, up from $107 million in the same period of 2023. This improvement in net income reflects the company's strong operational performance and higher electricity production from its wind facilities.

Adjusted EBITDA

Adjusted EBITDA, a non-IFRS measure, for Northland Power Inc. in the first quarter of 2024 was $454 million, an increase from $352 million in the first quarter of 2023. The rise in Adjusted EBITDA was driven by higher production and favorable wind conditions at their offshore wind facilities.

Dividends

Northland Power Inc. declared total dividends of $76.7 million for the first quarter of 2024, consistent with the $75.3 million declared in the same quarter of 2023. The company continues to provide stable returns to its shareholders while focusing on the execution of its major projects.

Summarized from source with an LLMView Source

Key figures

-24.6%1Y

-51.8%3Y

-33.6%5Y

Performance

26.5%1Y

25.4%3Y

29.4%5Y

Volatility