08:29 AM EDT, 05/07/2025 (MT Newswires) -- TransAlta ( TAC ) shares dropped 1.5% at last look Wednesday in NYSE pre-market trading after the company reported lower first-quarter adjusted net earnings.

TransAlta ( TAC ) booked adjusted net earnings of $30 million, or $0.10 per share, falling from $128 million, or $0.41 per share, and slightly below the analyst consensus non-GAAP EPS estimate of $0.11 compiled by FactSet.

Revenue fell to $758 million from $947 million but beat the analyst consensus sales estimate of $733 million compiled by FactSet.

Adjusted EBITDA slid to $270 million from $342 million. Production rose to 6,832 GWh from 6,178 GWh.

"Our business delivered strong operational performance across the fleet during the first quarter," said John Kousinioris, president and CEO of TransAlta ( TAC ). "While the company's merchant portfolio in Alberta was partially impacted by softer power prices, our hedging strategy and active asset optimization continued to generate realized prices well above spot prices."

The company reaffirmed its 2025 annual guidance after it delivered strong operational performance in the first quarter.