TransAlta Corp. TA-T reported a loss of $78-million in its fourth quarter compared with a loss of $167-million in the same quarter a year earlier.
The Calgary-based power utility company says the loss amounted to 29 cents per share for the quarter ended Dec. 31 compared with a loss of 61 cents per share in the last three months of 2020.
Revenue totalled $610-million, up from $544-million.
TransAlta says free cash flow for the quarter was $106-million or 39 cents per share, up from $52-million or 19 cents per share in the same quarter a year earlier.
The company says the increase was helped by higher realized prices in Alberta, the settlement of provisions and lower sustaining capital spending, while partially offset by higher distributions paid to subsidiaries’ noncontrolling interests.
TransAlta has electrical power generation assets in Canada, the United States and Australia.
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