TransAlta Q1 EBITDA Drops to $204M; Operating Cash Flow Rises to $123M
TransAlta reported Q1 adjusted EBITDA of $204 million, down from $270 million last year, while operating cash flow rose to $123 million from $7 million. CEO Joel Hunter succeeded John Kousinioris, and Mike Politeski and Grant Arnold were named CFO and CCO.
1. Q1 Financial Performance
TransAlta generated $565 million in Q1 revenues, with adjusted EBITDA of $204 million versus $270 million a year ago. Operating cash flow jumped to $123 million from $7 million, free cash flow reached $102 million, and net earnings declined to $13 million (US$0.04 per share).
2. Leadership Transition
Joel Hunter became President and CEO on April 30, succeeding John Kousinioris, who will serve as strategic advisor through year‐end. Effective May 1, Mike Politeski was appointed Executive Vice President, Finance and CFO, and on May 6 Grant Arnold joined as Executive Vice President, Growth and Chief Commercial Officer.
3. Operational Performance and Outlook
Fleet availability stood at 93.8% despite softer Alberta power prices, underpinned by hedging and contracted portfolios. The company reaffirmed its 2026 guidance, advanced data centre and Far North asset integration, and secured a 90-day extension for Centralia Unit 2 availability.