TRANSALTA (TAC) Company Report

TransAlta Corporation has entered into a definitive agreement to acquire Far North Power Corporation and its entire business operations in Ontario for $95 million.
The acquisition includes four natural gas-fired generation facilities totaling 310 MW.
The transaction is expected to be immediately accretive to free cash flow and cash yield upon closing and is anticipated to add approximately $30 million of average Adjusted EBITDA per year from 2027-2031.
The deal is subject to customary closing conditions, including regulatory approvals, and is expected to close by early first quarter of 2026.

Nov 17, 2025, 11:30 AM

6-K

TransAlta Reports Q3 2025 Results, Announces CEO Retirement, and Provides Updates on Strategic Initiatives

TAC

Earnings

CEO Change

New Projects/Investments

TransAlta reported Q3 2025 adjusted EBITDA of CAD 238 million, a CAD 77 million decrease from Q3 2024, and free cash flow of CAD 105 million, a CAD 26 million decrease from the prior year, primarily due to lower power prices and subdued market volatility. The company is tracking towards the lower end of its 2025 adjusted EBITDA range but the midpoint for free cash flow.
President and CEO John Kousinioris announced his retirement effective April 30, 2026, with Joel (Speaker 5) slated to succeed him. A CFO successor will be announced in the coming months.
The company is advancing its Alberta data center strategy, having secured a demand transmission service contract for 230 MW with AESO and obtaining rezoning approval for over 3,000 acres for future development. They are progressing towards a Memorandum of Understanding (MOU) with prospective customers, with the Alberta restructured energy market (REM) expected to be implemented in 2027 or 2028 and support system reliability and power prices.
At its Centralia site, TransAlta expects to execute a definitive agreement before year-end for the coal-to-gas conversion, which will also detail revenue streams and tenor.

Nov 6, 2025, 4:00 PM

Transcript

TransAlta Announces President and CEO Succession

TAC

CEO Change

Management Change

CFO Change

TransAlta Corporation announced on November 6, 2025, that its President and CEO, John Kousinioris, plans to retire effective April 30, 2026.
Joel Hunter, currently the Executive Vice President, Finance and Chief Financial Officer, has been appointed to succeed Mr. Kousinioris as President and CEO, and will be nominated to join the Board, effective April 30, 2026.
Mr. Kousinioris will serve as a strategic advisor for six months following his retirement, and the Company's Chief Financial Officer successor will be announced in the coming months.

Nov 6, 2025, 12:46 PM

6-K

TransAlta Reports Q3 2025 Net Loss, Announces CEO Succession, and Updates Capital Structure

TAC

Earnings

CEO Change

Debt Issuance

TransAlta Corporation reported a net loss attributable to common shareholders of ($62) million for Q3 2025, resulting in basic and diluted EPS of ($0.20), and a net loss of ($128) million for the nine months ended September 30, 2025, with EPS of ($0.43). Adjusted EBITDA for the nine-month period decreased to $857 million from $973 million in the prior year, mainly due to lower adjusted revenues, higher fuel and carbon compliance costs, and increased carbon prices.
John Kousinioris, President and CEO, will retire effective April 30, 2026, and Joel Hunter, Executive Vice President, Finance and CFO, has been appointed as his successor.
The company issued $450 million in senior notes in March 2025 and extended its $2.1 billion committed credit facilities. As of September 30, 2025, available liquidity was $1,553 million, and the adjusted net debt to adjusted EBITDA ratio increased to 3.9 times from 3.6 times at December 31, 2024.

Nov 6, 2025, 12:06 PM

6-K

TransAlta Announces CEO Succession, Divestitures, and Credit Facility Extension

TAC

CEO Change

M&A

Debt Issuance

TransAlta announced that President and CEO John Kousinioris will retire effective April 30, 2026, with Joel Hunter, current EVP Finance and CFO, appointed as his successor.
The company completed the required divestitures of its 48 MW Poplar Hill facility on August 1, 2025, and its 97 MW Rainbow Lake facility on October 2, 2025.
On July 16, 2025, TransAlta extended its committed credit facilities totaling $2.1 billion, with the syndicated facility maturity extended to June 30, 2029, and bilateral facilities to June 30, 2027.
For the nine months ended September 30, 2025, TransAlta repurchased and cancelled 1.9 million common shares for a total cost of $24 million under its Normal Course Issuer Bid.

Nov 6, 2025, 12:04 PM

6-K

TransAlta Reports Q3 2025 Results and Announces CEO Succession

TAC

Earnings

CEO Change

New Projects/Investments

TransAlta Corporation reported Adjusted EBITDA of $238 million and Free Cash Flow of $105 million for the third quarter ended September 30, 2025, compared to $315 million and $131 million respectively for the same period in 2024.
President and CEO John Kousinioris announced his retirement effective April 30, 2026, with Joel Hunter, the current EVP, Finance and Chief Financial Officer, appointed as his successor.
The company advanced its Alberta data centre strategy by entering into a 230 MW Demand Transmission Service contract with AESO and securing re-zoning approval for over 3,000 acres for development.
TransAlta completed the required divestitures of its 48 MW Poplar Hill facility and 97 MW Rainbow Lake facility.

Nov 6, 2025, 12:01 PM

Press Release

TransAlta Reports Q1 2025 Results and Reaffirms Annual Guidance

TAC

Earnings

Guidance Update

New Projects/Investments

TransAlta Corporation reported a decrease in financial performance for the first quarter ended March 31, 2025, compared to the same period in 2024, with Adjusted EBITDA at $270 million (down from $342 million) and Free Cash Flow (FCF) at $139 million (down from $221 million). Net earnings attributable to common shareholders also decreased to $46 million from $222 million.
Despite the Q1 2025 performance, the company reaffirmed its 2025 annual guidance, targeting Adjusted EBITDA between $1,150 to $1,250 million and FCF between $450 to $550 million.
Key strategic initiatives in Q1 2025 included a strategic investment in Nova Clean Energy, LLC, granting TransAlta the exclusive option to purchase late-stage development projects in the western U.S..
The company also issued $450 million of medium-term notes to repay a $400 million term loan , increased its quarterly dividend by eight per cent to $0.065 per share , and purchased and cancelled 1,932,800 common shares for $24 million as of May 6, 2025.

May 7, 2025, 12:00 AM

6-K

Earnings Transcripts

Quarterly earnings call transcripts for TRANSALTA.

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