Financial Performance - The company reported strong financial performance for Q3 2024, with Free Cash Flow (FCF) per share of $0.47, driven by proactive hedging and asset management strategies [1][4] - Adjusted EBITDA for Q3 2024 was $325 million, a decrease of 28% compared to $453 million in Q3 2023, primarily due to lower power prices and production in the Hydro and Gas segments [4][13][15] - FCF for Q3 2024 was $140 million, down 39% from $228 million in Q3 2023, mainly due to lower adjusted EBITDA and higher income tax expenses [4][17] - Operational adjusted availability improved to 94.5% in Q3 2024, up from 91.9% in Q3 2023, driven by new asset additions and the return of Kent Hills wind facilities [4][14] Business Developments - The company is advancing the acquisition of Heartland Generation, with ongoing discussions with Energy Capital Partners and regulatory approval from the Competition Bureau [3][5] - Sundance Unit 6 will be temporarily mothballed from April 1, 2025, for up to two years, with flexibility to return to service based on market conditions [3][6] - The company is pursuing opportunities to support the energy transition, including redevelopment and recontracting of legacy thermal assets [3] Shareholder Returns - The company returned $114 million to shareholders through share buybacks in the first nine months of 2024, repurchasing 11.8 million shares at an average price of $9.65 per share [4][9] - The enhanced share repurchase program for 2024 targets up to $150 million, with 76% of the program already completed [4][7] Operational Highlights - Production for Q3 2024 increased by 1% to 5,712 GWh compared to 5,678 GWh in Q3 2023, driven by higher output from the Wind and Solar segment [13] - The Wind and Solar segment saw a 19% increase in adjusted EBITDA to $44 million in Q3 2024, driven by new asset additions and the return of Kent Hills wind facilities [15] - The Gas segment's adjusted EBITDA decreased by 45% to $139 million in Q3 2024, primarily due to lower production and market prices in Alberta [15] Financial Guidance - The company expects 2024 Adjusted EBITDA to be between $1,150 million and $1,300 million, with FCF projected between $450 million and $600 million [4][23] - Alberta spot power prices are expected to range between $60 and $75 per MWh for the remainder of 2024, down from previous assumptions of $75 to $95 per MWh [25] Liquidity and Hedging - The company had $1.8 billion in liquidity as of September 30, 2024, including $401 million in cash [22] - Hedged volumes for Q4 2024 are 2,415 GWh at an average price of $82 per MWh, with hedged gas volumes of 15 million GJ at $2.55 per GJ [27]

https://files.reportify.cc/media/product TRANSALTA CORPORATION Management's Discussion and Analysis Third Quarter Report for 2024 This Management's Discussion and Analysis ("MD&A") contains forward-looking statements. These statements are based on certain estimates and assumptions and involve risks and uncertainties. Actual results may differ materially. Refer to the Forward-Looking Statements section of this MD&A for additional information. Table of Contents | --- | --- | --- | --- | |-------|------------- ...

CALGARY, Alberta, Oct. 04, 2024 (GLOBE NEWSWIRE) -- TransAlta Corporation ("TransAlta") (TSX: TA) (NYSE: TAC) will release its third quarter 2024 results before markets open on Tuesday, November 5, 2024. A conference call and webcast to discuss the results will be held for investors, analysts, members of the media and other interested parties the same day beginning at 9:00 a.m. Mountain Time (11:00 a.m. ET). The media will be invited to ask questions following analysts. Third Quarter 2024 Conference Call: W ...

CALGARY, Alberta, Sept. 17, 2024 (GLOBE NEWSWIRE) -- Further to TransAlta Corporation's ("TransAlta" or the "Company") (TSX: TA; NYSE: TAC) press release dated August 22, 2024, the Company announced today that after taking into account all election notices received for the conversion of the Cumulative Redeemable Rate Reset Preferred Shares, Series G (the "Series G Shares") into Cumulative Redeemable Floating Rate Preferred Shares, Series H (the "Series H Shares"), there were only 20,607 Series G Shares tend ...

Walterdale suspension bridge and saskatchewan river with skyline in Edmonton Alberta Canada at dusk Anthony Mance/iStock via Getty Images Note: All amounts disclosed are in Canadian Dollars. Stock prices refer to the TSX prices. On our previous article on TransAlta Corporation (TSX:TA:CA), we stuck with the bull case. This was after the stock had continued to disappoint. We were bullish on Alberta Power prices as well the company's best-in-class hedging activities. Specifically, we said, The "over-hedging" ...

CALGARY, Alberta, Sept. 03, 2024 (GLOBE NEWSWIRE) -- Further to the news release of TransAlta Corporation ("TransAlta" or the "Company") (TSX: TA; NYSE: TAC) dated August 22, 2024, the Company announced today the applicable dividend rates for its cumulative redeemable rate reset first preferred shares Series G ("Series G Shares") (TSX: TA.PR.J) and cumulative redeemable floating rate first preferred shares Series H of the Company ("Series H Shares"). With respect to any Series G Shares that remain outstandi ...

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks. Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leavin ...

CALGARY, Alberta, Aug. 22, 2024 (GLOBE NEWSWIRE) -- TransAlta Corporation ("TransAlta" or the "Company") (TSX: TA; NYSE: TAC) announced today that it does not intend to exercise its right to redeem all or any part of the currently outstanding cumulative redeemable rate reset first preferred shares Series G ("Series G Shares") (TSX: TA.PR.J) on September 30, 2024 (the "Conversion Date"). As a result, the holders of the Series G Shares will have the right to convert all or any of their Series G Shares into cu ...

Generated record Q2 Contribution ex-TAC, programmatic revenue and CTV revenue Achieved 27% year-over-year Adjusted EBITDA growth in Q2 2024 while expanding Adjusted EBITDA Margin as a percentage of Contribution ex-TAC to 32% from 26% in Q2 2023 Reaffirming full year 2024 Contribution ex-TAC and Adjusted EBITDA guidance Launched $50 million Ordinary Share repurchase program and fully repaid the Company's outstanding longterm debt in Q2 2024 NEW YORK, Aug. 22, 2024 (GLOBE NEWSWIRE) -- Nexxen International Ltd ...

stuckreed/iStock via Getty Images For 2024 Investment case TransAlta Corponation (TSX:TA.CA) (NYSE:TAC) continus: its strong performance. Since my last publication on May 1, TimasAlta: Prefereds, Offer Lucative Yields, Common Share TA:CA - TransAlta Corporation $11.42 -0.055 (-0.48%) 11.27 AM 08/20/24 | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |---------------------------------------|-------|----------|-------|-------|------------------------|-----------|---------------- ...