Q1 2026 Northland Power Inc (Ontario) Earnings Call Transcript

May 14, 2026 / 02:00 PM GMT

Release Date Price: C$22.63 (-3.95%)

Transcript

Key Points

Positve

Northland Power Inc (NPIFF) reported a strong financial performance in Q1 2026, with adjusted EBITDA and free cash flow per share increasing by 18% and 17%, respectively, compared to the previous year.
The company achieved high operational availability of 96%, allowing it to capitalize on strong wind resources in its European offshore fleet.
Northland Power Inc (NPIFF) is advancing significant construction projects, including the Hilong offshore wind project in Taiwan and the Baltic Power offshore wind project in Poland, both on track for commercial operations as planned.
A new 30-year corporate power purchase agreement was signed for the Hilong project, covering 100% of its generating capacity, which enhances long-term revenue certainty.
The company maintains a strong balance sheet with nearly $1 billion in available liquidity and an investment-grade credit rating, positioning it well for future capital allocation and growth opportunities.

Negative

A tragic incident occurred at Northland Power Inc (NPIFF)'s EPSA utility in Columbia, resulting in a contractor's death, highlighting the need for improved safety measures.
The company decided to discontinue the 100-megawatt High Bridge onshore wind project in New York due to regulatory uncertainties, reflecting challenges in project execution.
Northland Power Inc (NPIFF) chose not to renew a permit for a 990-megawatt offshore wind project in South Korea, indicating difficulties in meeting investment criteria in certain markets.
The slower-than-expected turbine commissioning at the Hilong project may require a potential equity injection of $150 million to $200 million, posing a financial challenge.
Lower production from onshore wind and solar facilities in Spain, Canada, and the U.S. partially offset the company's strong offshore wind performance.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

NPI.TO - Northland Power Inc (Ontario)
Q1 2026 Northland Power Inc (Ontario) Earnings Call
May 14, 2026 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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Welcome to the Northland Power Conference Call to discuss the first quarter 2026 results. As a reminder, this call is being recorded on Thursday, May 14th, 2026, at 10 A.m. Eastern. Present for this call are Christine Healey, President and CEO, Jeff Hart, Chief Financial Officer, and Adam Beaumont, Head of Capital Markets.

Before we begin, Northlands Management has asked me to remind listeners that all figures presented during today's call are in Canadian dollars, and to caution that certain information presented and responses to questions may contain forward-looking statements that include assumptions and are subject to various risks. Actual results may differ materially from management's expected or

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