RY 169.88 -1.0542% SHOP 144.59 -0.959% TD 77.85 -0.1667% ENB 59.62 -0.5505% BN 78.53 -0.971% TRI 223.92 -0.2495% CNQ 47.03 -0.0213% CP 102.49 -0.5627% CNR 147.77 -0.8787% BMO 131.32 -0.0685% BNS 78.4 0.0255% CSU 4463.7002 0.6222% CM 90.42 0.6344% MFC 44.91 -1.3184% ATD 77.0 -0.7604% NGT 60.01 -0.4149% TRP 68.0 -2.2989% SU 56.965 -0.4282% WCN 260.14 -0.653% L 176.45 0.7135%

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TransAlta (TSX: TA) Targets Adjusted EBITDA of CAD 1,150-1,300mn in FY24

Image source: Megapixl

Highlights

TransAlta Corporation (TSX: TA), an independent power producer, operates over 70 power plants across Canada, Australia, and the Western United States. It has a market capitalization of CAD 3.02 billion.

In Q1 2024, the company experienced a 13% decrease in revenue compared to Q1 2023 (pcp), driven by reduced merchant sales in Alberta due to lower spot and hedged power prices. This decline in revenue was further exacerbated by a rise in operations, maintenance, and administration costs, leading to a 25.1% drop in operating profit.

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