Last C$15.44 CAD
Change Today +0.36 / 2.39%
Volume 1.1M
NPI On Other Exchanges
Symbol
Exchange
OTC US
Toronto
Berlin
As of 4:51 PM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).

northland power inc (NPI) Snapshot

Open
C$15.09
Previous Close
C$15.08
Day High
C$15.46
Day Low
C$15.00
52 Week High
07/2/14 - C$18.69
52 Week Low
12/12/14 - C$14.54
Market Cap
2.3B
Average Volume 10 Days
681.5K
EPS TTM
C$0.60
Shares Outstanding
147.9M
EX-Date
12/29/14
P/E TM
25.8x
Dividend
C$1.08
Dividend Yield
6.99%
Current Stock Chart for NORTHLAND POWER INC (NPI)

Related News

No related news articles were found.

northland power inc (NPI) Related Businessweek News

No Related Businessweek News Found

northland power inc (NPI) Details

Northland Power Inc. develops, builds, owns, and operates power generation projects primarily in Canada, the United States, and Germany. It has an economic interest in operating power-producing facilities with a total capacity of 1,005 megawatts (MW), as well as in a pipeline of construction and development projects. The company’s operating assets comprise facilities that produce electricity from natural gas and renewable sources. It also has approximately 260 MW of natural-gas-fired base load facility and 60 MW of ground-mounted solar projects under construction; wind, solar, and run-of-river hydro projects under development; and a portfolio of projects in earlier stages of development. In addition, the company owns rooftop solar facilities and a wood chipping facility, as well as offers engineering, management, and operation services. Further, it sells steam and natural gas. The company was formerly known as Northland Power Income Fund and changed its name to Northland Power Inc. in January 2011. Northland Power Inc. was founded in 1987 and is headquartered in Toronto, Canada.

290 Employees
Last Reported Date: 02/25/14
Founded in 1987

northland power inc (NPI) Top Compensated Officers

Chief Executive Officer, Chief Executive Offi...
Total Annual Compensation: C$409.9K
Chief Financial Officer
Total Annual Compensation: C$315.0K
Vice Chairman and Chief Operating Officer
Total Annual Compensation: C$355.9K
Vice President and General Counsel
Total Annual Compensation: C$315.0K
Chief Investment Officer
Total Annual Compensation: C$322.5K
Compensation as of Fiscal Year 2013.

northland power inc (NPI) Key Developments

Northland Power Inc. Reports Consolidated Financial Results for the Third Quarter and Nine Months Ended September 30, 2014; Reaffirms Earnings Guidance for the Year 2014

Northland Power Inc. reported consolidated financial results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported sales of $172.505 million against $152.373 million a year ago. Operating income was $54.346 million against $51.240 million a year ago. Net loss was $43.791 million against net income of $41.265 million a year ago. Adjusted EBITDA was $86.784 million against $75.681 million a year ago. Cash provided by operating activities was $74.493 million against $76.034 million a year ago. Free cash flow was $35.621 million against $39.654 million a year ago. Free cash flow per share was $0.239 against $0.320 a year ago. The $20.1 million increase in sales from the same period in 2013 is primarily due to contributions from McLean's and the ground-mounted solar projects, partially offset by lower wind resources at Northland's other wind facilities. Increased economic production periods at Thorold also contributed to higher sales. The third quarter net loss exceeded the prior year because the increase in adjusted EBITDA was more than offset by higher finance costs and a fair value loss on derivative contracts. A significant portion $58 million of the loss represents the fair value accounting treatment of Gemini's interest rate swaps that are marked-to-market and consolidated with Northland's operating results. These fair value adjustments are non-cash items that will reverse over time, and have no impact on the cash obligations of Northland or its projects. The $11.1 million increase in adjusted EBITDA from the same period in 2013 was primarily due to: an $8.1 million contribution from McLean's and the Ground-mounted Solar Phase I and II projects; a $4.8 million increase in adjusted EBITDA from Northland's other facilities, including higher one-time dividends from Panda-Brandywine and investment income earned on the Gemini subordinated debt; and a $1.8 million increase in performance and management fees from Kirkland Lake and Cochrane substantially due to achieving certain conditions which entitles Northland to share in the Cochrane cash flows after all operating and financing expenses. Offsetting these favourable variances were: a $1.2 million decrease from Northland's existing thermal and wind facilities, largely due to lower electricity prices at Kingston and calm wind conditions at the Jardin wind facility; and $1.4 million of higher corporate costs. Free cash flow was $4 million lower than the corresponding period in 2013 largely due to the timing of scheduled debt repayments for North Battleford and ground-mounted solar in 2013; Factors increasing free cash flow in the third quarter of 2014 over the same quarter of 2013: $6.8 million higher adjusted EBITDA from Northland's operating facilities; $1.2 million increase in adjusted EBITDA generated from one-time Panda dividends and interest earned from the McLean's partner equity loan; $1.8 million increase in management fees from Kirkland Lake and Cochrane; and $1.9 million reduction in funds previously set aside for future major maintenance that were either not required or were utilized to fund the steam turbine inspection and overhaul at Iroquois Falls. Factors decreasing free cash flow in the third quarter of 2014 over the same quarter of 2013: $3.5 million net interest expense increase; $8.1 million increase in scheduled debt repayments; $1.4 million increase in corporate general and administration costs; $0.7 million negative variance associated with milestone payments to GE related to Kingston's gas turbine maintenance contract; $0.9 million increase in operations-related capital expenditures. Funds were drawn from the reserve account to partially cover this expenditure; and $1.1 million increase in other miscellaneous items. For the nine months, the company's sales was $571.874 million against $382.907 million a year ago. Operating income was $188.752 million against $121.365 million a year ago. Net loss was $107.060 million against net income of $145.011 million a year ago. Adjusted EBITDA was $270.333 million against $180.310 million a year ago. Cash provided by operating activities was $291.945 million against $178.594 million a year ago. Free cash flow was $123.742 million against $92.049 million a year ago. Free cash flow per share was $0.853 against $0.768 a year ago. Sales were higher in the first nine months of 2014 compared to the prior year and primarily reflect the inclusion of financial results from North Battleford, McLean's, the ground-mounted solar projects and Kirkland Lake and Cochrane. The net loss exceeded the prior year because the increase in adjusted EBITDA was more than offset by higher finance costs, a write-off of deferred development costs associated with the Kabinakagami hydro project and a non-cash fair value loss on derivative contracts. The increase in adjusted EBITDA reflects a full nine months of contributions from North Battleford and the operational Ground-mounted Solar Phase I and II projects, overall favourable results from Northland's other operating facilities largely due to natural gas resales, favourable wind conditions at Mont Louis and the German wind farms, higher investment income and performance incentive fees earned from Cochrane and Kirkland Lake. These favourable results were partially offset by increased corporate management and administration costs and the write-off of deferred development costs in the first quarter. Free cash flow was $31.7 million higher than 2013. Favourable changes from the same period in 2013 included: $90 million increase in adjusted EBITDA reduced by the $5.6 million of investment income from Gemini; $0.6 million reduction in funds previously set aside for future major maintenance that were either not required or was utilized to fund the Iroquois Falls steam turbine inspection and overhaul at Iroquois Falls; $0.9 million favourable change in other liabilities associated with contracted gas turbine maintenance milestone payments to GE; and $1.2 million of other miscellaneous items. Partially offsetting these favourable variances was: $29.5 million net interest expense increase; $22.1 million increase in scheduled debt repayments; $1.3 million of additional non-expansionary capital expenditures; and $2.6 million of fees related to the renewal and expansion of Northland's corporate credit facility. The company continues to reaffirm its previous guidance of 2014 adjusted EBITDA to be approximately $350 to $360 million and the 2015 adjusted EBITDA forecast to be approximately $380 to $400 million.

Northland Power Inc. Presents at Renewables and Mining Summit, Oct-15-2014 12:10 PM

Northland Power Inc. Presents at Renewables and Mining Summit, Oct-15-2014 12:10 PM. Venue: Toronto, Ontario, Canada. Speakers: JP Bradette, Country Director, Canada and Latin America.

Northland Power Inc. to Report Q3, 2014 Results on Nov 13, 2014

Northland Power Inc. announced that they will report Q3, 2014 results at 5:00 PM, Eastern Standard Time on Nov 13, 2014

 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Recently Viewed
NPI:CN C$15.44 CAD +0.36

NPI Competitors

Market data is delayed at least 15 minutes.

Company Last Change
Atlantic Power Corp C$3.38 CAD +0.19
View Industry Companies
 

Industry Analysis

NPI

Industry Average

Valuation NPI Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 3.0x
Price/Book 3.5x
Price/Cash Flow 23.9x
TEV/Sales NM Not Meaningful
 | 

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact NORTHLAND POWER INC, please visit www.northlandpower.ca. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.