TransAlta Reports Q3 2026 Net Earnings of $63 Million Amid Alberta Portfolio Optimization
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Key Takeaways
- TransAlta reported Q3 2026 net earnings of $63 million, or $0.20 per share, reversing a $62 million loss from Q3 2025.
- Adjusted EBITDA for the quarter reached $264 million, up from $238 million in the prior year's third quarter.
- Total production fell to 5,260 GWh in Q3 2026 from 6,151 GWh in the same period last year.
- The company maintained $1.87 billion in liquidity and reported total assets of $8.77 billion as of Sept. 30, 2026.
- Full-year 2026 free cash flow guidance was reaffirmed at a range of $350 million to $450 million.
TransAlta (NYSE: TAC) Corp. filed a form 6-K on Nov. 3, 2026, detailing financial and operational results for the three and nine months ended Sept. 30. Despite the revenue decline, net earnings attributable to common shareholders reached $63 million, compared to a net loss of $62 million in the prior-year period.
Operational data showed a decrease in total production to 5,260 GWh for the quarter, down from 6,151 GWh in Q3 2025. This decline was reflected across several segments, including a drop in Energy Transition production from 1,243 GWh to 666 GWh. However, the Hydro segment's adjusted EBITDA rose to $76 million from $73 million, and the Wind and Solar segment increased to $52 million from $45 million.
In Alberta, where TransAlta maintains a gross installed capacity of 5,248 MW, the company reported a weighted average contract life of 10 years for its gas assets and eight years for its wind and solar facilities. The Alberta portfolio results showed a realized merchant power price of $107 per MWh for the quarter. The company noted that 40% of its Alberta wind and solar capacity is currently contracted, while 23% of its gas capacity in the province is under contract.
Looking ahead, TransAlta reaffirmed its full-year 2026 financial targets. For the remainder of 2026, the company has hedged 2,061 GWh of production at an average price of $71 per MWh. For 2027, hedged production stands at 6,732 GWh at a price of $79 per MWh.
