04:58 PM EDT, 08/07/2024 (MT Newswires) -- Innergex Renewable Energy ( INGXF ) after hours on Wednesday reports a swing to an adjusted loss for the second quarter.

The renewable power producer reported an adjusted loss, excluding most one-time items, of $3.9 million or $0.09 per share, from an adjusted profit of $11.3 million, or $0.10, last year.

Revenue and production tax credits fell to $260 million, from $270 million, in the prior year period. The decrease was mainly due to lower production from wind facilities in Quebec and in France, from hydro facilities in British Columbia, and from the solar portfolios in the U.S. and Chile.

The company reaffirmed its full year 2024 Free Cash Flow per share to be in the range of $0.70 to $0.85. Adjusted EBITDA proportionate is expected to range between $725 million to $775 million.

The company declared a quarterly dividend of $0.09 per share, payable on October 15.

Innergex closed down $0.55 to $9.10 on the Toronto Stock Exchange.