Total Revenue

+31% (from $371M in Q3 2023 to $486M in Q3 2024)

Strong revenue growth was driven by improved performance across both Renewables and Conventional Generation, reflecting successful growth investments and operational improvements relative to the previous period. " " " "

Operating Income

+89% (from $94M in Q3 2023 to $178M in Q3 2024)

Operating income more than doubled due to marked improvements in operational efficiency and cost management, which built on the revenue gains from new projects and favorable market adjustments compared to the previous year. " " "

Net Income

+140% (from $15M in Q3 2023 to $36M in Q3 2024)

Net income surged as a consequence of the enhanced operating performance and tighter expense controls, overcoming prior period challenges and benefiting from improved margins and revenue diversification. " " "

EPS (Basic and Diluted)

+675% (from $0.04 in Q3 2023 to $0.31 in Q3 2024)

Earnings per share skyrocketed mainly due to the strong rise in net income and improved profitability, reflecting both operational performance and better capital structure management relative to Q3 2023. " " "

Renewables Revenue

Noted sequential gain (from $297M in Q2 2024 to $384M in Q3 2024)

Renewables revenue improved significantly as a result of new solar and battery energy storage system (BESS) acquisitions along with higher wind production compared to the prior quarter, marking a successful turnaround in the segment's performance. " "

Conventional Generation Revenue

Noted sequential gain (from $69M in Q2 2024 to $102M in Q3 2024)

Conventional Generation revenue increased due to better capacity utilization and favorable revenue recognition changes, which built on prior period adjustments such as the impact of expiring PPAs and improved operational scheduling. " "

Net Change in Cash

+$104M in Q3 2024

Improved cash flow was primarily driven by enhanced operating activities and disciplined capital management, supporting the company’s liquidity relative to previous periods. "