Transalta Corp. (NYSE: TAC) reported Q1 EPS of (Cdn$0.11), versus Cdn$0.10 reported last year. Revenue for the quarter came in at Cdn$642 million, versus Cdn$606 million reported last year.

First Quarter 2021 Highlights

• Comparable EBITDA(1) of $310 million, an increase of $90 million or 41 per cent compared to the same period in 2020
• Free cash flow ("FCF")(1) of $129 million or $0.48 per share compared to $109 million or $0.39 per share, a 23 per cent increase on a per share basis, for the same period in 2020
• Hydro segment delivered $77 million of comparable EBITDA, an increase of $51 million or 96 per cent compared to the same period in 2020
• Adjusted availability was 88.6 per cent compared to 92.8 per cent for the same period in 2020

"TransAlta delivered excellent results during the first quarter, ahead of our financial expectations. Our strong performance was led by our Alberta Hydro fleet as we experienced the first few months of fully merchant operations in the Alberta electricity market. Our strategically diversified fleet of hydro, wind, energy storage and thermal assets demonstrated its competitiveness and continued value in the new market structure," said John Kousinioris, President and Chief Executive Officer. "Our Energy Marketing segment also had an exceptional start to the year with favourable trading results across North America. Given these exceptional results, we expect performance to track to the upper end of the range of our 2021 guidance."

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