Power utility TransAlta reports $80 million loss in second quarter

CALGARY – TransAlta Corp. reported a loss of $80 million in its latest quarter compared with a loss of $12 million in the same quarter last year.

The Calgary-based power utility says the net loss attributable to common shareholders amounted to 30 cents per diluted share for the second quarter.

That compares with a loss of four cents per share for the same period in 2021.

Revenue in the company’s quarter ended June 30 totalled $458 million, down from $619 million a year ago.

TransAlta says its adjusted earnings before interest, taxes, depreciation and amortization for the quarter was $279 million, down 13 per cent from $319 million in the same quarter a year earlier.

Funds from operations totalled $220 million, down from $267 million in the same quarter last year.

TransAlta’s free cash flow was $145 million for the quarter compared with $155 million in 2021’s second quarter.

This report by The Canadian Press was first published Aug. 5, 2022.

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