Atlantic Power Corporation Releases Second Quarter 2018 Results
ATLANTIC POWER CORP (AT)
Last atlantic power corp earnings: 2/27 05:13 pm
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US:NYSE Investor Relations:
investors.atlanticpower.com
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Source: PR Newswire
DEDHAM, Mass., Aug. 2, 2018 /PRNewswire/ --Second Quarter 2018 Financial HighlightsNet loss attributable to Atlantic Power of $(0.6) million in Q2 2018 vs. $(21.9) million in Q2 2017 Project income of $13.6 million in Q2 2018 vs. project loss of $(12.1) million in Q2 2017 Both Net loss and Project income (loss) improved from Q2 2017 due primarily to the non-recurrence of $57.7 million impairment expense at Chambers and Selkirk recorded in 2017 Cash from operating activities of $28.1 million in Q2 2018 decreased from $51.6 million in Q2 2017 Project Adjusted EBITDA of $39.8 million in Q2 2018 decreased from $85.4 million in Q2 2017 Lower operating cash flow and Project Adjusted EBITDA resulted from Power Purchase Agreement (PPA) expirations in 2018, non-recurrence of OEFC Settlement revenue recorded in 2017, Manchief gas turbine overhaul in 2018 and Tunis re-start expenses in 2018, as expected Repaid $26.4 million of term loan and project debt in Q2 2018 and $58.8 million year to da
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