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TransAlta (TA) investor relations material

TransAlta Q3 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2026 earnings summary3 Nov, 2026

Executive summary

  • Q3 Adjusted EBITDA rose 11% YoY to $264 million; common-share net earnings were $63 million versus a $62 million loss a year earlier.

  • 2026 Adjusted EBITDA guidance of $950 million–$1.05 billion and FCF guidance of $350 million–$450 million were reaffirmed.

Financial highlights

  • Q3 revenue was $536 million, down from $615 million YoY, while gross margin rose to $411 million from $353 million.

  • Q3 adjusted net earnings were $56 million, or $0.18 per share, versus an adjusted loss of $8 million, or $0.02 per share; reported EPS was $0.20 versus a $0.20 loss.

  • Q3 FCF was $93 million, or $0.29 per share; FFO was $146 million, or $0.46 per share.

  • 9M revenue declined 12% to $1.588 billion and Adjusted EBITDA fell 11% to $759 million; FCF was $338 million versus $421 million.

  • Q3 operating income was $146 million versus $11 million; earnings before income taxes were $100 million versus a $53 million loss.

Outlook and guidance

  • 9M Adjusted EBITDA was $759 million and FCF was $338 million, against full-year guidance of $950 million–$1.05 billion and $350 million–$450 million, respectively.

  • Full-year Alberta hedges cover 9,364 GWh at $65/MWh; hedged gas totals 40.9 million GJ at $3.04/GJ.

  • A $1/MWh change in Alberta spot prices is expected to affect remaining-2026 Adjusted EBITDA by $1 million in either direction.

  • Centralia coal-to-gas conversion is expected to require US$600 million; a final investment decision is targeted for early 2027, with operations anticipated in late 2028.

  • Priorities include fleet reliability, Alberta data-centre development, Centralia conversion and optimization of the Alberta merchant fleet.

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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.