12:05 PM EST, 02/20/2025 (MT Newswires) -- (Updates shares.)

Innergex Renewable Energy ( INGXF ) reported Thursday said it swung to a fourth-quarter profit on higher revenue.

The company booked net earnings of $33.2 million, or $0.14 per share, up from a prior-year loss of $122.0 million, or $0.57, and above the FactSet consensus forecast of $0.10 per share.

Revenues and production tax credits was $286.1 million, rising from $261.5 million. Adjusted EBITDA increased to $201.1 million from $175.4 million.

"We are extremely pleased with the progress made in the Q4 2024, which reflects our strong execution, strategic growth, and commitment to delivering results," said chief executive Michel Letellier.

For 2025, the company expects to book adjusted EBITDA in the range of $825.0 million to $875.0 million.

Innergex also forecast free cash flow per share between $0.75 and $0.95.

Innergex shares were last seen up $0.60 to $8.30 on the Toronto Stock Exchange.

Price: 8.34, Change: +0.64, Percent Change: +8.31