TransAlta

TransAlta Corp. engages in the generation and distribution of electricity through wind, hydro, gas and coal power plants. It operates through the following business segments: Hydro, Wind and Solar, Gas, Energy Transition, Energy Marketing, and Corporate. The Hydro, Wind and Solar, Gas and Energy Transition business segments are responsible for operating and maintaining the company's electrical generation facilities in Canada, Australia, and the US. The Energy Marketing segment is responsible for marketing and scheduling the company's merchant asset fleet outside of Alberta along with procurement of gas, transport and storage to the company's gas fleet, providing intellectual knowledge to support the company's growth team, and generating a stand-alone gross margin separate from the company's asset business through a North American energy marketing platform. The company was founded by William Maxwell Aitken in 1909 and is headquartered in Calgary, Canada.

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TransAlta Corporation has outperformed its subsidiary, TransAlta Renewables, over the last few months. Valuation still remains extremely compelling for the parent.

TransAlta: Renewable Growth Stories At Great Valuations

CALGARY, AB , May 24, 2022 /PRNewswire/ - TransAlta Corporation ("TransAlta" or the "Company") (TSX: TA) (NYSE: TAC) announced today that the Toronto Stock Exchange ("TSX") has accepted the notice filed by the Company to implement a normal course issuer bid ("NCIB") for a portion of its common shares ("Common Shares").  Pursuant to the NCIB, TransAlta may repurchase up to a maximum of 14,000,000 Common Shares, representing approximately 7.16% of its public float of Common Shares, where the aggregate public float as at May 17, 2022, was 195,306,684 Common Shares.

TransAlta Announces TSX Acceptance of Normal Course Issuer Bid

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TransAlta Corporation (NYSE:TAC ) Q1 2022 Earnings Conference Call May 6, 2022 11:00 AM ET Company Participants Chiara Valentini - VP, Strategic Finance & IR John Kousinioris - President and CEO Todd Stack - EVP, Finance and CFO Kerry O'Reilly Wilks - EVP, Legal Commercial and External Affairs Conference Call Participants Dariusz Lozny - Bank of America Rob Hope - Scotiabank Mark Jarvi - CIBC John Mould - TD Securities Andrew Kuske - Credit Suisse Maurice Choy - RBC Naji Baydoun - iA Capital Markets Operator Good morning my name is Sylvie, and I will be your conference operator today. At this time, I would like to welcome everyone to TransAlta Corporation's First Quarter 2022 Results Conference Call.

TransAlta Corporation (TAC) CEO John Kousinioris on Q1 2022 Earnings Call Transcript

First Quarter 2022 Financial Highlights Adjusted EBITDA(1),( 2) of $266 million, a decrease of 14% over the same period in 2021 Free Cash Flow ("FCF")(1) of $115 million, or $0.42 per share, a decrease of 13% on a per-share basis from same period in 2021 Earnings before income taxes of $242 million, an increase of $221 million from the same period in 2021 Net earnings attributable to common shareholders of $186 million or $0.69 per share, compared to a loss of $0.11 per share for the same period in 2021 Cash flow from operating activities of $451 million, an increase of $194 million from same period in 2021 Other Business Highlights Announced 200 MW Horizon Hill wind project supplying Meta with renewable power under a long-term Power Purchase Agreement ("PPA") Secured capacity commitment extensions for the three remaining large industrial customers at the Sarnia cogeneration facility to 2031 Identified Amazon as the customer at White Rock Wind Project Reached agreement with BHP Nickel West to expand the Mount Keith transmission system in Western Australia Announced investment in Energy Impact Partners Deep Decarbonization Frontier Fund 1 Executed long-term PPA for remaining 30 MWs of capacity at Garden Plain wind Executed share buybacks of $18 million and repurchased 1.4 million common shares Provided updated on Kent Hills wind facilities outage CALGARY, AB , May 6, 2022 /PRNewswire/ - TransAlta Corporation ("TransAlta" or the "Company") (TSX: TA) (NYSE: TAC) today reported its financial results for the first quarter ended March 31, 2022. "TransAlta delivered solid first quarter results for 2022 with contributions from our new contracted assets at Windrise and North Carolina Solar which diversified our portfolio.

TransAlta Reports First Quarter 2022 Results and Reaches 40% of Renewables Growth Target

CALGARY, AB , April 12, 2022 /PRNewswire/ - TransAlta Corporation ("TransAlta") (TSX: TA) (NYSE: TAC) will release its first quarter 2022 results before markets open on Friday, May 6, 2022. A conference call and webcast to discuss the results will be held for investors, analysts, members of the media and other interested parties the same day beginning at 9:00 a.m.

Media Advisory: TransAlta and TransAlta Renewables First Quarter 2022 Results and Conference Call

CALGARY, AB , April 5, 2022 /PRNewswire/ - TransAlta Corporation ("TransAlta" or the "Company") (TSX: TA) (NYSE: TAC) announced today that it has entered into a long-term renewable energy purchase agreement with Meta, formerly known as the Facebook company, for the offtake of 100 per cent of the generation from its 200 MW Horizon Hill Wind Power Project ("Horizon Hill" or "facility"), to be located in Logan County, Oklahoma. Under this agreement, Meta will receive both renewable electricity and environmental attributes.

TransAlta and Meta Announce 200 MW Renewable Power Purchase Agreement and Launch of the Horizon Hill Wind Project

TransAlta Corporation has delivered superb results in 2021.

TransAlta Corp.: A Superior Choice To TransAlta Renewables

TransAlta Renewables Inc (TRSWF) CEO John Kousinioris on Q4 2021 Results - Earnings Call Transcript

TransAlta Corporation (TAC) CEO John Kousinioris on Q4 2021 Results - Earnings Call Transcript

CALGARY, AB, Feb. 24, 2022 /PRNewswire/ - Fourth Quarter 2021 Financial Highlights Adjusted EBITDA(1),(2) of $270 million, an increase of 15% over the same period in 2020 Free Cash Flow ("FCF")(1) of $106 million, or $0.39 per share, an increase of 105% on a per-share basis from the same period in 2020 Loss before income taxes of $32 million, an improvement of $136 million from the same period in 2020 Cash flow from operating activities of $54 million, a decrease of 51% from the same period in 2020 Full Year 2021 Financial Highlights Adjusted EBITDA(1),(2) of $1.263 billion, an increase of 36% from the same period in 2020 FCF(1) of $562 million, or $2.07 per share, an increase of 59% on a per-share basis from the same period in 2020 Loss before income taxes of $380 million, an increase of $77 million from the same period in 2020 Cash flow from operating activities of $1.0 billion, an increase of 43% from the same period in 2020 Other Business and ESG Highlights Announced 600 MW of renewables growth projects, securing 30% of our 5-year 2 GW growth target Achieved full phase-out of coal in Canada, with completed coal-to-gas conversions at Sundance Unit 6 and Keephills Units 2 and 3, and ceased mining activities at the Highvale mine Reduced annual carbon emissions by 3.9 million tonnes, a 24% reduction compared to 2020 Acquired a fully contracted 122 MW portfolio of solar assets in North Carolina Achieved commercial operations at the 206 MW Windrise wind facility Joined the Powering Past Coal Alliance, a global organization of governmental and private sector organizations working to take action on reducing greenhouse gas emissions from coal-fired electricity generation and accelerating the energy transition Enhanced and accelerated our near term GHG emissions target to a 75% reduction over 2015 levels Reduced our operational waste by 55% compared to 2020 levels Reduced our SO2 and NOx emissions by 42% and 29%, respectively, compared to 2020 levels Increased our common share dividend by 11% to an annualized dividend of 20 cents per share TransAlta Corporation ("TransAlta" or the "Company") (TSX: TA) (NYSE: TAC) today reported its financial results for the fourth quarter and full year ended Dec. 31, 2021. "2021 was a record year for TransAlta.

TransAlta Reports Fourth Quarter and Full Year 2021 Results

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Among the S&P 500 utility companies that have released their Q4 numbers so far, 33.3% beat on earnings. AEP, EIX, NRG, TAC, CWT & PMRW are set to report Q4 results on Feb 24

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CALGARY, AB, Feb. 1, 2022 /PRNewswire/ - TransAlta Corporation ("TransAlta" or the "Company") (TSX: TA) (NYSE: TAC) announced today that it has made a $2 million equity investment in Ekona Power Inc.'s ("Ekona") Series A funding round. The investment will help support the commercialization of Ekona's novel methane pyrolysis technology platform, which produces cleaner and lower-cost turquoise hydrogen.

TransAlta Announces Early-Stage Hydrogen Investment in Ekona Power Inc.

CALGARY, AB, Jan. 24, 2022 /PRNewswire/ - TransAlta Corporation ("TransAlta") (TSX: TA) (NYSE: TAC) will release its fourth quarter 2021 results before markets open on Thursday, February 24, 2022. A conference call and webcast to discuss the results will be held for investors, analysts, members of the media and other interested parties the same day beginning at 9:00 a.m.

Media Advisory: TransAlta and TransAlta Renewables Fourth Quarter 2021 Results and Conference Call

CALGARY, AB, Jan. 18, 2022 /PRNewswire/ - TransAlta Corporation ("TransAlta" or the "Company") (TSX: TA) (NYSE: TAC) announced today its financial outlook for 2022. Highlights Comparable EBITDA range of $1.065 billion to $1.185 billion Free Cash Flow ("FCF") range of $455 million to $555 million or FCF per share range of $1.68 to $2.05 Sustaining capital range of $150 million to $170 million Continued delivery of TransAlta's Clean Electricity Growth Plan by reaching final investment decision on 400 to 500 MW of additional clean energy projects across Alberta, the United States and Australia to deliver $50 million to $70 million of incremental EBITDA "We are pleased to announce that our annual outlook highlights continuing strong cash flow expectations for 2022.

TransAlta Announces Outlook and Continuing Strong Cash Flow for 2022

As a result of projects coming online in 2022, I expect at least modest AFFO growth for 2022. RNW is among the cheapest in the renewables segment and most conservatively leveraged.

TransAlta: The Best Way To Play The Renewables Segment

CALGARY, AB, Dec. 29, 2021 /PRNewswire/ - TransAlta Corporation (TSX: TA) (NYSE: TAC) ("TransAlta" or the "Company") announced today that it has completed the last of three planned coal-to-gas conversions ("CTG") at its Alberta Thermal power generation facilities near Wabamun, Alberta. "The full conversion of Keephills Unit 3 ("KH3") from thermal coal to natural gas is a significant milestone for TransAlta in its transition off coal.

TransAlta Achieves Full Phase-Out of Coal in Canada

TransAlta (TAC) inks two deals to sell power generated from its to-be-constructed 300 MW-White Rock Wind Project. TAC is on course to achieve 2 GW capacity under its Clean Electricity Growth Plan.

TransAlta (TAC) to Build 300 MW Wind Plant, Eyes 2 GW Target

CALGARY, AB, Dec. 22, 2021 /PRNewswire/ - TransAlta Corporation ("TransAlta" or the "Company") (TSX: TA) (NYSE: TAC) announced today that it has entered into two long-term Power Purchase Agreements ("PPAs") for the offtake of 100 per cent of the generation from its 300 MW White Rock East and White Rock West Wind Power Projects (collectively, "White Rock Wind Project" or the "facility"), to be located in Caddo County, Oklahoma.  Contracting the renewable electricity and environmental attributes to an outstanding new customer with an AA credit rating from S&P Global Ratings enables TransAlta to move into the construction phase and add the 300 MW White Rock Wind Project to its growing wind generation fleet.

TransAlta Announces 300 MW White Rock Wind Project

CALGARY, AB, Dec. 14, 2021 /PRNewswire/ - TransAlta Corporation (TSX: TA) (NYSE: TAC) announced today a correction to its press release issued December 13, 2021 in respect of the dividend amount declared on its Cumulative Redeemable Rate Reset First Preferred Shares, Series B (the "Series B shares"). In the press release, the dividend amount payable on March 31, 2022 to shareholders of record on March 1, 2022 was misstated as $0.53236 per Series B share.

Correction Notice to Press Release Regarding Dividend Amount on Preferred Shares, Series B

TransAlta is trading at a 25% discount to the conservatively calculated SOTP value. More likely than not, Brookfield will attempt to acquire the company above its SOTP value.

TransAlta Is Up 40% In 2021 And Is Poised To Repeat It In 2022 With Or Without Acquisition By Brookfield

TransAlta Corporation (TAC) CEO John Kousinioris on Q3 2021 Results - Earnings Call Transcript

CALGARY, AB, Nov. 9, 2021 /PRNewswire/ - Third Quarter 2021 Highlights Comparable EBITDA(1) of $381 million, an increase of $125 million or 49 per cent compared to the same period in 2020 Free cash flow ("FCF")(1) of $189 million or $0.70 per share compared to $106 million or $0.39 per share, a 79 per cent increase on a per-share basis over the same period in 2020 Hydro segment delivered $82 million of comparable EBITDA, an increase of $54 million compared to the same period in 2020 Alberta Thermal segment delivered $104 million of comparable EBITDA, an increase of $57 million compared to the same period in 2020 Adjusted availability was 89.2 per cent compared to 91.5 per cent for the same period in 2020, largely impacted by outages in the Alberta fleet Other Highlights Announced Clean Electricity Growth Plan, establishing targets to deliver 2 GW of incremental renewables capacity with investment of $3 billion by 2025 Announced an 11 per cent increase to its common share dividend and declared a dividend of $0.05 per common share to be payable on Jan. 1, 2022 to shareholders of record at the close of business on Dec. 1, 2021 Announced the development of the 48 MW Northern Goldfields Solar and Storage Project for BHP Billiton Nickel West, with full notice to proceed issued to the EPC contractor and construction activities expected to commence in the first quarter of 2022 Announced the decision to suspend the Sundance Unit 5 repowering project and the retirements of Keephills Unit 1 at the end of 2021, and Sundance Unit 4 in 2022, retiring approximately 1,200 MW of coal-fired capacity Subsequent Events & Updates Closed the previously announced acquisition of the economic interest of a 122 MW portfolio of operating solar facilities located in North Carolina for approximately US$99 million and the assumption of tax equity obligations Completion of all construction activities at Windrise and on-track to reach commercial operations in November of 2021 2021 Revised Outlook With exceptional year-to-date results, the Company has increased its 2021 outlook as set out below: Comparable EBITDA range of $1.2 to $1.3 billion FCF range of $500 to $560 million Energy Marketing gross margin contribution range of $195 to $210 million TransAlta Corporation ("TransAlta" or the "Company") (TSX: TA) (NYSE: TAC) today reported its financial results for the three and nine months ended Sept. 30, 2021. "We are pleased to report TransAlta delivered another exceptional quarter.

TransAlta Reports Exceptional Third Quarter 2021 Results and Increases Annual Guidance

CALGARY, AB, Nov. 5, 2021 /PRNewswire/ - As the world gathers at COP26 to take action on the threat of climate change and keep the Paris Agreement goal of limiting temperature rise to 1.5°C within reach, TransAlta Corporation (TSX: TA) (NYSE: TAC) ("TransAlta" or the "Company") was pleased to participate at the Powering the World Past Coal event at COP26, in Glasgow, Scotland. At the event, TransAlta and 27 new members joined the Powering Past Coal Alliance (the "Alliance") where the new members were announced by the governments of Canada and the United Kingdom, Co-Chairs of the Alliance.

TransAlta Recognized at COP26 Powering the World Past Coal Event

TransAlta (TAC) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

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