Power utility TransAlta reports $62 million profit in Q2

CALGARY – TransAlta Corp. reported a profit of $62 million in its latest quarter compared with a loss of $80 million in the same quarter last year.

The Calgary-based power utility says the net earnings attributable to common shareholders amounted to 23 cents per basic and diluted share for the second quarter.

That compares with a loss of 30 cents per share for the same period a year earlier.

Revenue in the company’s quarter ended June 30 reached $625 million, up from $458 million a year ago.

TransAlta says its adjusted earnings before interest, taxes, depreciation and amortization for the quarter was $387 million compared with $279 million a year earlier.

Funds from operations totalled $391 million compared with $220 million during the same quarter last year.

This report by The Canadian Press was first published Aug. 4, 2023.

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