06:22 AM EDT, 08/14/2025 (MT Newswires) -- Northland Power (NPI.TO) swung to an unexpected loss in the second quarter as below average wind levels in Europe impacted the performance that pushed the company to revise 2025 full year financial guidance.

The net loss was $53 million in the second quarter compared with net income of $262 million in the same quarter of 2024. The net loss attributable to shareholders was $62.7 million compared with $246.1million.

The net loss attributable to common shareholders basic and diluted was $0.25 versus a positive $0.95. The consensus forecast at FactSet was for a profit of $0.14.

Among other highlights, revenue from energy sales was $509 million in the second quarter of 2025 compared to $529 million in the same quarter of 2024.

Adjusted EBITDA was $245 million in the second quarter of 2025 compared with $268 million in the same quarter of 2024. Free Cash Flow per share in the quarter was $0.22, down from $0.27.

The company revised 2025 full-year financial guidance for adjusted EBITDA and free cash flow per share, driven primarily by low wind resource across its offshore wind facilities during the first half of the year.

"This quarter, Northland and our partners reached several major construction milestones, including the ahead-of-schedule and under-budget delivery of the Oneida energy storage project into commercial operations, first power at Hai Long, and the installation of Baltic Power's first wind turbine," said Christine Healy, President and CEO of Northland. "While our overall performance was impacted by below-average wind levels in Europe during the quarter, we continued to demonstrate strong operational performance with 95% commercial availability."

NPI was up 0.5% on the TSX on Wednesday.