TransAlta falls short of analyst expectations; Q1 profit and revenue down

CALGARY – TransAlta Corp. (TSX:TA) missed analyst estimates in the first quarter.

The Calgary-based power generation company reports it had a net loss, lower adjusted earnings and less revenue in the first quarter compared with the same time last year.

The net loss of $11 million was equal to four cents per share, while adjusted profit fell to $32 million or 12 cents per share and revenue fell to $540 million.

A year earlier, TransAlta had $88 million or 39 cents per share of net income, $44 million or 20 cents per share of adjusted earnings and $644 million in revenue.

Analysts had been looking for 20 cents per share of adjusted earnings and revenues of $593 million, according to a consensus estimate compiled by Thomson Reuters.

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