Northland Power (TSE:NPI) Posts Quarterly Earnings Results

Northland Power (TSE:NPI) posted its earnings results on Friday. The solar energy provider reported C$0.71 EPS for the quarter, FiscalAI reports. Northland Power had a negative net margin of 5.48% and a negative return on equity of 3.46%. The company had revenue of C$567.58 million during the quarter.

Here are the key takeaways from Northland Power’s conference call:

• Q3 adjusted EBITDA rose 9% to CAD 280 million, supported by initial contributions from Hai Long and Baltic Power and higher natural-gas revenue. Northland reaffirmed 2026 guidance of CAD 1.45–1.65 billion in adjusted EBITDA and CAD 1.05–1.25 per share in free cash flow.
• Free cash flow fell to CAD 0.06 per share from CAD 0.17 a year earlier, mainly reflecting lower European offshore wind generation. Management said new offshore projects are still ramping toward expected reliability; the Gemini cable outage was repaired, with an immaterial full-year impact expected after insurance proceeds.
• Northland said it has line of sight to at least 90% of its 1.4–1.8 GW 2030 growth target, including 300 MW under construction and 900 MW at mid-stage development. Jurassic BESS reached commercial operations ahead of schedule and under budget, while Baltic Power and Hai Long advanced toward full operations.
• The company is pursuing growth through battery hybridization, solar repowering, and new development in Canada and Europe, while maintaining a 12% levered after-tax return threshold. It also reiterated plans for CAD 300 million of capital-recycling proceeds and CAD 50 million in annual savings by the end of 2028, with savings expected to begin contributing in 2027.

Northland Power Stock Up 5.7%

Northland Power stock traded up C$1.29 during midday trading on Friday, hitting C$23.86. 2,025,944 shares of the stock were exchanged, compared to its average volume of 1,003,487. Northland Power has a 52-week low of C$15.96 and a 52-week high of C$24.36. The stock has a market capitalization of C$6.24 billion, a price-to-earnings ratio of -42.61, a price-to-earnings-growth ratio of 0.71 and a beta of 0.38. The business’s 50-day moving average price is C$22.06 and its 200-day moving average price is C$21.98. The company has a quick ratio of 1.23, a current ratio of 1.04 and a debt-to-equity ratio of 164.38.

Northland Power Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, November 16th. Investors of record on Monday, November 16th will be given a dividend of $0.06 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, October 30th. Northland Power’s dividend payout ratio (DPR) is presently -164.29%.

Analyst Upgrades and Downgrades

NPI has been the topic of several recent research reports. TD Securities raised shares of Northland Power from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 14th. Desjardins decreased their price objective on Northland Power from C$23.00 to C$22.00 and set a “hold” rating for the company in a report on Wednesday, July 22nd. TD raised Northland Power from a “hold” rating to a “buy” rating and set a C$25.00 price objective for the company in a report on Friday, August 14th. Finally, ATB Cormark Capital Markets increased their price objective on Northland Power from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$24.90.

About Northland Power

Northland Power develops, constructs, and operates maintainable infrastructure assets across a range of clean and green technologies, such as wind (offshore and onshore), solar, and supplying energy through a regulated utility. Offshore wind is expected to remain the company’s largest segment over the long term. Northland’s growth opportunities are global and span North America, Europe, Latin America, and Asia.