Published on 08/14/2023 at 14:46updated on 08/14/2023 at 18:56
Boralex asserted that these gains more than offset the unfavorable impact of weather conditions in North America at the end of the quarter. (Photo: Courtesy)
Shares of Boralex (BLX) rose more than 6% Monday afternoon on the Toronto Stock Exchange after the renewable energy producer posted stronger second-quarter earnings.
The company reported net income attributable to shareholders of $19 million, or 19 cents a share, compared to $10 million, or 10 cents a share, last year.
Revenue generated from energy sales and additional rewards reached $210 million, a 25% increase compared to the second quarter of 2022.
The company attributed the increase to higher electricity prices and start-ups in France, as well as the contribution from wind turbine acquisitions in the United States.
Boralex asserted that these gains more than offset the unfavorable impact of weather conditions in North America at the end of the quarter.
Boralex shares closed Monday on the Toronto trading floor up $1.84, or 6.15%, at $31.78.
Incurable food practitioner. Tv lover. Award-winning social media maven. Internet guru. Travel aficionado.
;Composite=(type=URL,url=https://images.radio-canada.ca/v1/assets/elements/16x9/outdated-content-2013.png),gravity=SouthEast,placement=Over,location=(0,0),scale=1)
