Northland Power Inc. (TSE:NPI) released its latest research report regarding its quarterly earnings data from August 10th. According to the report, Northland Power, an independent power producer, experienced lower than expected earnings per share for the quarter.
During the reported period, Northland Power reported C$0.01 earnings per share, falling short of analysts’ consensus estimates of C$0.12 by C($0.11). This shortfall in earnings reflects a net margin of 18.99% and a return on equity of 12.32%. The company’s revenue for the quarter stood at C$471.55 million, exceeding analysts’ expectations of C$454.15 million.
Northland Power specializes in developing, building, owning, and operating clean and green power projects across regions such as North America, Europe, Latin America, and Asia. Their focus lies in generating electricity from renewable resources including wind, solar, hydropower as well as utilizing clean-burning natural gas and biomass. The company sells this electricity under power purchase agreements and other revenue arrangements.
The quarterly report indicates that Northland Power is actively involved in leveraging renewable energy sources to contribute towards a sustainable future while simultaneously meeting the increasing energy demands globally.
By incorporating wind, solar, hydropower technologies alongside clean-burning natural gas and biomass into their energy portfolio for commercial sale through diverse revenue arrangements like power purchase agreements; Northland Power aims to provide multiple environmentally responsible alternatives in various parts of the world.