Bladex (NYSE: BLX) reported Q1 EPS of $0.28, $0.25 worse than the analyst estimate of $0.53.

• Significant result growth across-the-board
  • EBITDA(A) of $131 million ($154 million)(1), up 26% (34%) from last year.
  • Cash flows from operations of $101 million ($121 million), up 30% (46%) from last year.
  • Net earnings attributable to shareholders of $26 million, up 30% from last year.
• Power generated by the acquired Invenergy interests 31% higher than the anticipated production(2)
• Comparable wind farms power production up from last year and higher than the anticipated production(2)
  • Canada: up 8% (14%) from last year and 1% lower (8% higher) than anticipated production(2)
  • France: down 5% from last year (which was a strong quarter) and 5% higher than the anticipated production(2)
• Strategic plan update and new financial objectives to be announced on June 18, 2019

"Last quarter's results underscore the soundness of our growth strategy," pointed out Patrick Lemaire, Boralex's President and Chief Executive Officer. "The improved results were largely driven by assets acquired and commissioned over the last twelve months. Power generated by interests acquired from Invenergy in September 2018 was 31% higher than the anticipated production for the quarter. This performance as well as the growth reported by comparable wind farms stemmed from excellent wind conditions in Canada, particularly in Québec."

Mr. Lemaire continued by noting once again that Boralex will achieve its target of 2,000 MW in the coming months, one year ahead of schedule. "As we mentioned at the end of fiscal 2018, we're in the process of updating our strategic plan. Our focus is to identify high potential development opportunities, remain disciplined and leverage the expertise that has contributed to our success up to now. We'll be ready to announce the outcome of this process on June 18, 2019," he specified.

For earnings history and earnings-related data on Bladex (BLX) click here.