Transalta Corp. (NYSE: TAC) reported Q1 EPS of Cdn$1.10, Cdn$0.89 better than the analyst estimate of Cdn$0.21. Revenue for the quarter came in at Cdn$1.09 billion versus the consensus estimate of Cdn$620.59 million.

Increased 2023 Financial Guidance

The Company increased its 2023 outlook for adjusted EBITDA to be between $1.45 billion and $1.55 billion. The midpoint of the range represents a 19% increase over the Company's previous 2023 outlook as at the fourth quarter of 2022.

FCF outlook has also been increased and is now expected to be between $650 million and $750 million. The midpoint of the range represents a 15% increase over the Company's previous 2023 outlook.

The Energy Marketing gross margin range has been revised to $130 million to $150 million, an increase of 40% at the midpoint of the Company's previous 2023 outlook.

For earnings history and earnings-related data on Transalta Corp. (TAC) click here.