)
Edge28 Nov 2025
Keeping the Streak Alive: The Story of Duolingo
How Duolingo made language learning addictive, scaled to millions of users, and built a powerful subscription business around everyday practice.
TransAlta (TA) investor relations material
TransAlta Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Adjusted EBITDA for Q3 2025 was CAD 238 million (USD 238 million), with free cash flow of CAD 105 million (USD 105 million) and fleet availability at 92.7%, despite challenging market conditions and lower power prices in Alberta and Mid-C regions.
Revenue for Q3 2025 was $615 million, down 4% year-over-year, and net loss attributable to common shareholders was $62 million for Q3.
Progressed key legacy thermal opportunities, including Alberta data center and Centralia coal-to-gas conversion, with commercial negotiations ongoing and major milestones expected by year-end.
Announced CEO succession, with John Kousinioris retiring in April 2026 and Joel Hunter named as successor.
Major events included completion of required divestitures, extension of credit facilities, and a $450 million senior notes offering.
Financial highlights
Adjusted EBITDA of CAD 238 million for Q3 2025, down from CAD 315 million in Q3 2024, and free cash flow of CAD 105 million, down from CAD 131 million.
Nine months ended Sept. 30, 2025: Adjusted EBITDA of $857 million and free cash flow of $421 million.
Realized prices for hedged Alberta generation at CAD 66/MWh (29% premium to spot), hydro at CAD 76/MWh, and gas at CAD 79/MWh.
Available liquidity at quarter-end was $1.55 billion; adjusted net debt to adjusted EBITDA increased to 3.9x.
Adjusted net loss per share was $(0.02) for Q3 and $0.26 for the nine months.
Outlook and guidance
Tracking toward the low end of 2025 adjusted EBITDA guidance ($1.15–$1.25 billion) and mid-point of free cash flow guidance ($450–$550 million).
Approximately 1,900 GWh hedged for the remainder of 2025 at CAD 72/MWh, and 7,800 GWh hedged for 2026 at CAD 66/MWh, both above current forward prices.
Full-year Alberta spot price expected to average CAD 46/MWh; 2025 assumptions are $40–$60/MWh.
Dividend per share guidance for 2025 is $0.26 annualized.
2026 outlook to be updated in Q4 2025 call.
Assess REM's FTR impact on Alberta assets
US policy changes impact on Nova pipeline
Evaluate carbon cost strategy effectiveness
Legacy assets' role in Phase 2 data center growth
Centralia definitive agreement scope
REM impact on Alberta merchant power prices
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next TransAlta earnings date
Q4 202520 Feb, 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.
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.
)
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.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
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.
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.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@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.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@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.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
TransAlta Corporation is a power generation and energy marketing company that produces and sells electricity across various markets. The company operates a diversified portfolio of energy assets, including coal, natural gas, hydroelectric, wind, and solar power facilities. TransAlta provides reliable energy solutions to industrial, commercial, and residential customers while focusing on transitioning to cleaner energy sources. The company is headquartered in Calgary, Canada, and its shares are listed on the NYSE.
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