Northland Power
Logotype for Northland Power Inc

Northland Power (NPI) investor relations material

Northland Power Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Northland Power Inc
Q4 2025 earnings summary26 Feb, 2026

Executive summary

  • Achieved or exceeded 2025 Adjusted EBITDA and Free Cash Flow per share guidance, driven by record offshore wind production, strong operational performance, and project execution.

  • Advanced major construction projects: Hai Long (Taiwan), Baltic Power (Poland), and Jurassic BESS (Alberta), with key milestones reached and commercial operations on track for 2026–2027.

  • Launched a new global strategy targeting 7 GW gross operating capacity by 2030, with a regionally focused operating model and five-year funding plan centered on Canada and Europe.

  • Focused on disciplined capital allocation, targeting high-return projects and annual cost savings of CAD 50 million by 2028.

  • Reinforced leadership team and emphasized health, safety, and operational excellence as foundational values.

Financial highlights

  • Q4 2025 Adjusted EBITDA: CAD 390 million (up 25% YoY); net income: CAD 290 million (up from CAD 150 million in Q4 2024); revenue: $723 million (up from $572 million).

  • Q4 Free Cash Flow per share: CAD 0.46 (up from CAD 0.31); full-year: CAD 1.46 (down from CAD 1.53 in 2024).

  • Full-year 2025 Adjusted EBITDA: CAD 1.25 billion (flat YoY); net loss: CAD 108 million (vs. net income of CAD 371 million in 2024) due to a $527 million non-cash impairment at Nordsee One.

  • Cash provided by operating activities for 2025 was $1,426 million; year-end liquidity was $931 million.

  • Record high generation from German offshore wind assets and strong contributions from Oneida Energy Storage.

Outlook and guidance

  • 2026 Adjusted EBITDA guidance: CAD 1.45–1.65 billion, a 25% increase over 2025, driven by Hai Long, Baltic Power, Oneida, and Jurassic BESS.

  • 2026 Free Cash Flow per share guidance: CAD 1.05–1.25, lower than 2025 due to one-time 2025 items and higher debt service.

  • Baltic Power to reach commercial operations in H2 2026; Hai Long in 2027.

  • Development expenditures for 2026 expected at approximately CAD 50 million, focused on Europe and Canada.

  • Targeting to double gross operating capacity to 7 GW by 2030 and achieve specific Free Cash Flow targets.

Hai Long pre-completion revenue impact mitigation
Achieve 12+% investment return target how
Drivers of 2026 FCF/share decrease vs 2025
Hai Long funding shortfall: project-level solutions?
Polish BESS FID: key risks and mitigation?
FCF/share CAGR: Adjusting for 2025 one-time items?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.

Next Northland Power earnings date

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

Next Northland Power earnings date

Logotype for Northland Power 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

Northland Power Inc is a Canadian independent power producer that develops, builds, owns, and operates renewable energy and clean energy infrastructure assets. Its portfolio includes offshore and onshore wind, solar, and natural gas power projects in North America and Europe. Northland Power Inc is headquartered in Toronto, 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