Northland Power lifts Q3 adjusted EBITDA 9% and reaffirms 2026 guidance

what happened

Canadian renewable power producer Northland Power reported results for the third quarter and first nine months of 2026, according to a release published on GlobeNewswire. Revenue from energy sales reached C$565 million, compared with C$558 million a year earlier. Adjusted EBITDA rose 9% to C$280 million, helped by new output from the Hai Long and Baltic Power offshore wind projects. Net income came in at C$201 million, against a loss of C$456 million a year earlier.

Free cash flow per share, however, fell to C$0.06 from C$0.17. The company reaffirmed its 2026 full-year guidance. All 76 turbines at Baltic Power are now installed, and all 73 turbines at Hai Long are generating power. The 80 MW Jurassic battery storage project in Alberta entered commercial operations ahead of schedule and under budget.

why it matters

The main takeaway for investors is that large offshore wind projects are moving from construction into generation and cash flow. The drop in free cash flow per share, though, suggests that spending on new assets is still absorbing much of the operating cash.

market impact

Northland Power shares: higher EBITDA and profit support the stock, while weaker free cash flow per share limits gains

• ↔Northland Power shares mixed — higher EBITDA and net income offset by lower free cash flow per share

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