Boralex
Logotype for Boralex Inc

Boralex (BLX) investor relations material

Boralex Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Boralex Inc
Q4 2025 earnings summary27 Feb, 2026

Executive summary

  • Fiscal year 2025 was marked by strong execution, disciplined strategy, and sustainable growth, with the unveiling of a 2030 Strategic Plan and major project commissioning in Canada, the UK, France, and the US, despite volatility in resource generation and lower pricing in France.

  • Installed capacity increased to 3.8 GW (3,783 MW), up 615 MW, entirely from organic growth, with a development pipeline exceeding 8.2 GW.

  • Financial flexibility was enhanced by securing over $1 billion in project financing and increasing subordinated debt.

  • The company received multiple awards for social responsibility, diversity, and innovation, including top corporate citizen recognition in Canada.

Financial highlights

  • Q4-2025 production rose 18% year-over-year, with EBITDA (A) up $9 million and discretionary cash flows up $9 million; Q4 combined EBITDA was CAD 203 million, up CAD 12 million.

  • Fiscal 2025 production increased 8% year-over-year, but was 8–10% below anticipated production.

  • Combined operating income reached CAD 248 million and combined EBITDA was CAD 655 million, both down 2% from 2024; annual EBITDA (A) decreased $29 million to $552 million.

  • Q4-2025 revenues from energy sales grew 6% to $241 million, while annual revenues declined 3% to $796 million.

  • Net cash flows from operating activities were $46 million in Q4-2025 and $362 million for the year, both up year-over-year.

Outlook and guidance

  • The 2030 Strategy targets doubling installed capacity by 2030, supported by $8 billion in investments and a balanced approach to growth, diversification, and efficiency.

  • Sustained demand for renewable energy underpins continued expansion, with active participation in tender calls in Ontario, New York, the UK, and upcoming wind tenders in Quebec and France.

  • 2026 expected to see a smaller negative pricing effect in France, with normalization after that.

  • Quarterly dividend of $0.1650 per share declared, payable March 16, 2026.

Strategy to counter France's lower power prices
Timeline for 8.2 GW pipeline to meet 2030 target?
Debt increase impact on financial flexibility?
French repowering project pipeline update?
Texas/New Mexico merchant asset strategy?
Hydro-Quebec Wocawson partnership plans?
Partial view of Summaries dataset, powered by Quartr API
AI can get things wrong. Verify important information.
Research faster. Power your platform.

Next Boralex earnings date

Logotype for Boralex Inc
Q1 202613 May, 2026
Boralex
Your earnings 
season toolkit.
Download
Free on both iOS & Android.

Next Boralex earnings date

Logotype for Boralex Inc
Q1 202613 May, 2026

The essential earnings season companion

The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.

Live calls and transcripts

Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.

Find what you need faster

Search for any keyword across all transcripts simultaneously.

Easily store key findings

Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Your watchlist. Your dashboard.

Follow the companies that matter to you. Get a personalized feed with real-time updates.

Be the first to know

Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.

Consensus estimates

Access analyst consensus estimates, valuation multiples, and revenue segments splits.

All IR material in one place

The easiest way to stay updated during earnings season.

Global coverage

All events from public companies. Live and recorded.

Just click and listen

No webcast links. No manual registrations.

Research anytime, anywhere

Built for professionals. Loved by everyone. Try our free mobile app.

excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
App-store-avatar.png play-store-avatar.png
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
play-store-avatar
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
App-store-avatar.png play-store-avatar.png
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
x-avatar
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
App-store-avatar.png play-store-avatar.png
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
x-avatar
@theshortbearx.com

Frequently asked questions

Boralex Inc is a Canadian renewable energy company that develops, builds, and operates power generation facilities. The company focuses on wind, hydroelectric, solar, and thermal energy projects in North America and Europe. It supplies electricity to public utilities under long-term contracts. Boralex Inc is headquartered in Kingsey Falls, Canada, and its shares are listed on the TSX.

Quartr provides global coverage of all investor relation material from public companies.

  • Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.

  • Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.

  • Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.

Yes, the Quartr mobile app is free on both iOS and Android.

Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.

Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.

Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.

Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.

Explore our global coverage