TransAlta Reports Second Quarter Net Earnings of 52 Million
The company reported net earnings attributable to common shareholders of 35 million, or 0.12 a share, for the quarter ended June 30, 2026
TransAlta Corporation (TAC), a diversified power producer, reported net earnings of 52 million Canadian dollars for the three months ended June 30, 2026. This followed a net loss of 106 million Canadian dollars for the same period in 2025. Net earnings attributable to common shareholders were 35 million Canadian dollars, or 0.12 a share, compared to a net loss of 112 million Canadian dollars, or 0.38 a share, in the prior-year quarter.
Revenues for the second quarter rose to 487 million Canadian dollars from 433 million Canadian dollars in 2025. The company said its Alberta portfolio's hedging strategy and active optimization generated realized prices above spot prices, while environmental credits from wind and hydro assets offset carbon price compliance obligations for its merchant gas fleet. Gross margin for the period was 433 million Canadian dollars, up from 334 million Canadian dollars in the second quarter of 2025.
Operational availability for the company was 90.2% in 2026, down from 91.6% in 2025. Adjusted EBITDA for the second quarter was 291 million Canadian dollars, compared to 349 million Canadian dollars for the same period in 2025. Free cash flow fell to 143 million Canadian dollars, or 0.47 a share, from 177 million Canadian dollars, or 0.60 a share, in the prior-year quarter.
Cash flow from operating activities for the three months ended June 30 was 62 million Canadian dollars, or 0.21 a share, compared to 157 million Canadian dollars, or 0.53 a share, in 2025. The company used 69 million Canadian dollars for investing activities during the quarter. Financing activities provided 32 million Canadian dollars in cash, which included 338 million Canadian dollars in net proceeds from the issuance of common shares and 207 million Canadian dollars used to decrease credit facilities and other borrowings,.
TransAlta said it is advancing strategic priorities including the Centralia coal-to-gas conversion and the acquisition of long-term contracted assets in Colorado. The company also noted progress on a project with Brookfield and CPP Investments to develop AI infrastructure in Alberta.
TransAlta reaffirmed its 2026 Outlook.