Transalta Corp. (TSE:TA)
TSX:TA
Earnings Data
Report Date
May 01, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.04Last Year’s EPS
0.15Same Quarter Last Year
Strong Buy
Based on 6 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call balanced strong strategic execution and capital allocation actions (MOU for a large data-center opportunity, Centralia tolling agreement and conversion plan, accretive Far North acquisition, improved liquidity via $2.1B facilities, record safety, dividend increase and early achievement of emissions targets) against a challenging near-term operating backdrop driven by significantly lower Alberta spot power prices, subdued market volatility that reduced merchant and energy marketing results, Centralia operational constraints due to a DOE order, and timing/approval risks for data center development. Management presented clear mitigation levers (hedging, contracted fleet ~80% of expected revenue, asset optionality and funding flexibility) and a path to fund growth, but near-term financial metrics and guidance are pressured by market conditions and Centralia downtime.Company Guidance
Full-Year Adjusted EBITDA and Free Cash Flow
Reported full-year adjusted EBITDA of $1.1 billion. Management reported free cash flow as $514 million (Joel Hunter), above the midpoint of guidance; an earlier comment by management referenced $415 million (John Kousinioris), reflecting an inconsistency in the call transcript. Free cash flow per share was reported at $1.73 (Joel).
Strong Safety and Availability
Record safety performance with total recordable injury frequency (TRIF) of 0.12 in 2025 versus 0.56 in 2024 (approximately a 79% improvement) and ahead of the corporate target of 0.37. Average fleet availability for the year was 92.3%.
Strategic MOU for Keephills Data Center Opportunity
Entered into a memorandum of understanding with CPP Investments and Brookfield to advance a data center development at Keephills: initial long-term PPA for ~230 MW and evaluation of additional phases aggregating up to 1 GW. TransAlta will be the exclusive site and power provider for the project.
Centralia Tolling Agreement and Conversion Plan
Signed a long-term tolling agreement with Puget Sound Energy to convert Centralia Unit 2 (700 MW) from coal to natural gas, with an estimated capital requirement of ~US$600 million, an anticipated build multiple of 5.5x, and a target commercial operation date in late 2028 (FID targeted early 2027 after approvals). The conversion is expected to reduce emissions by ~50% and fully contract the unit through 2044.
Accretive Acquisition of Far North Power
Closed acquisition of Far North Power for $95 million, adding four gas-fired facilities totaling ~310 MW (company also referenced 315 MW earlier). Transaction expected to add ~$30 million of average adjusted EBITDA per year, with ~68% of gross margin contracted to 2031.
Balance Sheet and Liquidity Enhancements
Amended and extended committed credit facilities totaling $2.1 billion with syndicate lenders, improving financial flexibility and capacity to execute project financing. Management indicated multiple levers to fund growth including free cash flow, debt capacity and asset rotation.
Dividend Increase and Capital Allocation
Board approved an 8% increase to the common share dividend to $0.28 per share annualized — the seventh consecutive annual dividend increase, signaling commitment to returning capital to shareholders.
Operational and Integration Achievements
Fully integrated Heartland acquisition (late 2024) and completed ERP implementation on time and on budget. Advanced three natural gas generation projects in Alberta to preserve optionality to support data centers and grid reliability.
Hedging and Merchant Realizations
Demonstrated strong hedge position and merchant capture: in 2025 the company realized benefit from ~8,600 GWh of hedges at an average of $70/MWh (59% premium to average spot). The gas fleet captured an average price of ~$66/MWh (50% premium to the 2025 average spot), and the hydro fleet captured ~$58/MWh (32% premium). For 2027, TransAlta has ~4,000 GWh hedged at an average of $71/MWh.
Renewables Growth and Performance
Wind & solar segment delivered adjusted EBITDA of $338 million for the year, a 7% increase year-over-year, driven by the full-year contribution of Oklahoma assets, higher environmental and tax attribute revenues, and improved wind resources in parts of the fleet.
Emissions Target Achieved Early
Management reported that TransAlta achieved its 2026 greenhouse gas emissions reductions target ahead of schedule, reflecting progress on the company’s energy transition objectives.
TSE:TA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
TSE:TA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 27, 2026 | C$17.73 | C$18.75 | +5.73% |
Nov 05, 2025 | C$23.35 | C$23.64 | +1.23% |
Aug 01, 2025 | C$16.49 | C$16.90 | +2.46% |
May 07, 2025 | C$12.26 | C$11.63 | -5.14% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Transalta Corp. (TSE:TA) report earnings?
Transalta Corp. (TSE:TA) is schdueled to report earning on May 01, 2026, Before Open (Confirmed).
What is Transalta Corp. (TSE:TA) earnings time?
Transalta Corp. (TSE:TA) earnings time is at May 01, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is TSE:TA EPS forecast?
TSE:TA EPS forecast for the fiscal quarter 2026 (Q1) is 0.04.