Overview

* Boralex ( BRLXF ) Q2 revenue of CAD 185 mln missed analyst expectations

* Says production 2% below anticipated levels due to poor wind conditions in Europe, US

* Company reported a net loss of CAD 4 mln due to lower EBITDA and higher costs

* Production increased 14% yr/yr, driven by North American assets and new European sites

Outlook

* Boralex ( BRLXF ) aims to double installed capacity by 2030

* Boralex ( BRLXF ) preparing for tenders in France, Ontario, UK

* Company has 8.2 GW pipeline in wind, solar, storage

Result Drivers

* PRODUCTION INCREASE - 14% increase in production driven by North American assets and new European sites

* LOWER PRICES - Decline in EBITDA due to lower prices for short-term power purchase contracts in France

* JOINT VENTURE IMPACT - Reduced share in earnings of joint ventures in North America contributed to lower EBITDA

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Miss C$185 C$213.40

Revenue mln mln (4

Analysts

)

Q2 Net -C$4 mln

Income

Q2 C$113

EBITDA mln

Q2 C$34 mln

Operatin

g Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the electric utilities peer group is "buy"

* Wall Street's median 12-month price target for Boralex Inc ( BRLXF ) is C$38.50, about 20.5% above its August 7 closing price of C$30.61

* The stock recently traded at 27 times the next 12-month earnings vs. a P/E of 28 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)