TransAlta Renewables Inc. reported earnings results for the first quarter ended March 31, 2016. For the quarter, the company reported revenue of CAD 68 million compared to CAD 68 million a year ago. Comparable EBITDA was CAD 114 million compared to CAD 55 million a year ago. Adjusted funds from operations were CAD 82 million compared to CAD 43 million a year ago. Net loss attributable to common shareholders was CAD 36 million or CAD 0.16 per basic and diluted share compared to net income attributable to common shareholders of CAD 20 million or CAD 0.17 per basic and diluted share a year ago. Adjusted funds from operations per share were CAD 0.37 compared to CAD 0.37 a year ago. AFFO increased CAD 39 million in the first quarter this year compared to the same period in 2015, primarily due to the increase in comparable EBITDA, partially offset by an increase in long-term accounts receivable and by sustaining capital expenditures associated with planned maintenance of the portfolio.


The company expects its comparable EBITDA for 2016 to be in the range of CAD 365 million and CAD 390 million, adjusted funds from operations to be in the range of CAD 245 million and CAD 270 million and comparable CAFD to be in the range of CAD 210 million and CAD 235 million.