07:54 AM EST, 02/28/2025 (MT Newswires) -- Boralex ( BRLXF ) on Friday reported a swing to a fourth-quarter loss as revenue fell.

The company reported a net loss of $16 million, or $0.15 per share, compared with a profit of $37 million, or $0.36 per share, in the previous corresponding quarter.

Revenue from energy sales and feed-in premium fell 28% to $228 million on lower production. Boralex ( BRLXF ) produced 1,520 GWh of power, 16% less than the previous corresponding quarter, because of adverse weather conditions. Boralex ( BRLXF ) ended the quarter with total production 16% below anticipated production.

"Despite high volatility in the financial markets and pressure on the stock prices of renewable energy companies, notably in the wake of the American elections, we are convinced that renewable energy development will continue in many regions. Strong growth in electricity demand is expected in the regions where we are developing wind and solar farms and battery storage systems, namely Canada, the United Kingdom, the United States and France," said Patrick Decostre, president and chief executive of Boralex ( BRLXF ).

Separately, Boralex ( BRLXF ) said the Toronto Stock Exchange approved its plan to buy back up to 8.7 million class A shares over the course of a year beginning on March 4