Q3 2024 Innergex Renewable Energy Inc Earnings Call Transcript
Key Points
- Innergex Renewable Energy Inc (INGXF) reported strong operational availability of its plants, ensuring readiness to capitalize on natural resources.
- The company successfully submitted a portfolio of projects in British Columbia, demonstrating effective project management and strategic growth.
- Innergex is expanding its presence in Chile with new projects, including battery installations to leverage market opportunities.
- The company executed a refinancing initiative for its hydro portfolio, exceeding initial financial expectations and enhancing financial flexibility.
- Innergex's hydro facilities in British Columbia are performing in line with long-term expectations, reversing previous years' dry conditions.
- The quarter was impacted by below-average wind regimes and lower water flows, affecting overall production.
- Free cash flow per share decreased compared to the previous year, influenced by lower EBITDA and higher interest payments.
- The company is tracking towards the lower end of its 2024 guidance due to industry-wide wind resource issues.
- There is uncertainty regarding the recontracting of the Curtis Palmer hydro facility, with potential impacts on future revenue.
- The BC RFP process presents challenges due to inflation pressures and the need for contingencies in project pricing.
Good morning. Ladies and gentlemen, thank you for standing by. Welcome to Energa Renewable Energies. 2024 3rd quarter conference call and webcast.
Then the web, they register for the leg of this.
At this time, all participants on the phone and the internet are in listen-only mode.
Following the presentation, we will conduct a question and answer first analysts and institutional investors instructions will be provided at that time for you to queue up precautions.
If anyone has any difficulties hearing the conference, please press star followed by zero for the operator appropriate assistance at any time.
I would like to remind everyone that this conference call is being recorded.
I'll now turn the conference over to Nazi Bean director, investor Relations. Go ahead.
Hello, everyone and thank you for joining us today. I'd like to specify that this conference will be held in English. Members of the media are invited to ask their
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
