Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us


Last C$3.10 CAD
Change Today 0.00 / 0.00%
Volume 238.2K
ATP On Other Exchanges
Symbol
Exchange
Toronto
Frankfurt
As of 4:00 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

atlantic power corp (ATP) Snapshot

Open
C$3.12
Previous Close
C$3.10
Day High
C$3.18
Day Low
C$3.05
52 Week High
09/11/14 - C$4.37
52 Week Low
10/8/14 - C$2.14
Market Cap
378.3M
Average Volume 10 Days
262.7K
EPS TTM
C$-0.26
Shares Outstanding
122.0M
EX-Date
08/27/15
P/E TM
--
Dividend
C$0.12
Dividend Yield
3.87%
Current Stock Chart for ATLANTIC POWER CORP (ATP)

atlantic power corp (ATP) Related Businessweek News

No Related Businessweek News Found

atlantic power corp (ATP) Details

Atlantic Power Corporation owns and operates a fleet of power generation assets in the United States and Canada. As of December 31, 2014, its power generation projects in operation had an aggregate gross electric generation capacity of approximately 2,945 megawatts consisting of interests in 28 operational power generation projects across 11 states in the United States and 2 provinces in Canada. The company also holds a 300 megawatts wind farm project located in Oklahoma; and a 53 megawatts biomass project in Georgia. Atlantic Power Corporation sells its electricity to utilities and other commercial customers. The company was founded in 2004 and is headquartered in Boston, Massachusetts.

316 Employees
Last Reported Date: 02/26/15
Founded in 2004

atlantic power corp (ATP) Top Compensated Officers

Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $400.0K
Compensation as of Fiscal Year 2014.

atlantic power corp (ATP) Key Developments

Atlantic Power Corporation Announces Distribution for the Quarter Ending September 30, 2015, Payable on September 30, 2015

Atlantic Power Corporation announced its distribution for the quarter ending September 30, 2015. A dividend of CAD 0.03 per common share will be payable on September 30, 2015 to holders of record at the close of business on August 31, 2015.

Atlantic Power Corporation Reports Unaudited Consolidated Earnings Result for the Second Quarter and Six Months Ended June 30, 2015; Revises Earnings Guidance for 2015

Atlantic Power Corporation reported unaudited consolidated earnings result for the second quarter and six months ended June 30, 2015. For the quarter, the company’s project revenue was USD 103.1 million against USD 123.1 million a year ago. Project income was USD 17.2 million against project loss of USD 2 million a year ago. Loss from continuing operations before income taxes was USD 17.1 million against USD 55.2 million a year ago. Loss from continuing operations was USD 20.0 million or USD 0.18 per basic and diluted share against USD 50.7 million or USD 0.45 per basic and diluted share a year ago. Net income attributable to the company’s shareholders was USD 14.7 million or USD 0.12 per basic and diluted share against net loss attributable to the company’s shareholders of USD 59.2 million or USD 0.49 per basic and diluted share a year ago. Project Adjusted EBITDA decreased by USD 13.8 million to USD 43.9 million for the second quarter of 2015 from USD 57.7 million for the second quarter of 2014.  The most significant drivers of lower EBITDA were the scheduled gas turbine maintenance outage at Manchief, the PPA expiration and reduced dispatch due to unfavorable market conditions at Selkirk, the mothballed status of Tunis, and lower water flows at Curtis Palmer and Mamquam. Adjusted cash inflows from operating activities were USD 21.6 million against USD 12.9 million a year ago. For the six months, the company’s project revenue was USD 214.4 million against USD 248.4 million a year ago. Project income was USD 38.8 million against USD 23.9 million a year ago. Income from continuing operations before income taxes was USD 3.0 million against of loss from continuing operations before income taxes USD 86.2 million a year ago. Income from continuing operations was USD 4.7 million against loss from continuing operations of USD 64.8 million a year ago. Net income attributable to the company’s shareholders was USD 32.2 million or USD 0.26 per basic and diluted share against net loss attributable to the company’s shareholders of USD 78.0 million or USD 0.65 per basic and diluted share a year ago. Cash provided by operating activities was USD 53.4 million against USD 5.5 million a year ago. Purchase of property, plant and equipment was USD 5.0 million against USD 2.5 million a year ago. Capitalized development costs were USD 0.8 million. Project adjusted EBITDA was USD 130.6 million against USD 149.7 million a year ago. Adjusted cash inflows from operating activities were USD 64.6 million against USD 55.9 million a year ago. For 2015, the company projects that capital expenditures will total approximately USD 11 million, of which approximately USD 9 million relates to discretionary optimization projects described in the following section of this release.  In addition to amounts capitalized, the company incurs maintenance expense to maintain its projects. Total maintenance expense is expected to be approximately USD 46 million for 2015, representing an increase of approximately USD 5 million from 2014, which is primarily attributable to the scheduled gas turbine outage at Manchief that occurred in the second quarter of 2015 and the absence of insurance recoveries and other proceeds that were credited at Piedmont in 2014, partially offset by reductions at several other projects that had maintenance outages in 2014. The company reduced project adjusted EBITDA and adjusted cash flows from operating activities guidance by USD 5 million to reflect low water flows at Mamquam and Curtis Palmer and reduced dispatch at Selkirk, project adjusted EBITDA guidance revised to a range of USD 200 to USD 215 million, adjusted cash flows from operating activities guidance revised to a range of USD 90 to USD 105 million, reduced adjusted free cash flow guidance by USD 10 million (to a range of USD 0 to USD 10 million) due to lower adjusted cash flows from operating activities guidance and higher than expected term loan amortization.

Atlantic Power Corporation Completes Redemption of Senior Unsecured Notes Due November 2018

Atlantic Power Corporation announced further progress in strengthening its balance sheet and lowering its risk profile. The company completed the redemption of its outstanding $310.9 million principal amount of 9.0% Senior Unsecured Notes due November 2018. The Notes were redeemed at a price equal to 104.50% of the principal amount, plus accrued interest to the redemption date, for a total amount of $330.4 million. The company used the cash proceeds from the recently completed sale of its wind generation portfolio to fund the redemption. Expenses associated with the redemption totaling approximately $19.5 million will be recorded in the Company's financial results in the third quarter of 2015. Pro forma for the redemption of the Senior Unsecured Notes, the Company's consolidated debt is now approximately $1.1 billion. This has been reduced approximately $726 million on a net basis since year end 2013, including $249 million of project debt that was assumed by the buyer of the Company's wind generation portfolio. In addition, since year end 2013, the Company has reduced its share of equity-owned project debt by approximately $76 million, most of which was associated with the sale of the wind generation portfolio.

 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Recently Viewed
ATP:CN C$3.10 CAD 0.00

ATP Competitors

Market data is delayed at least 15 minutes.

Company Last Change
Boralex Inc C$12.99 CAD +0.09
Capstone Infrastructure Corp C$3.24 CAD -0.08
Innergex Renewable Energy Inc C$10.80 CAD +0.07
Maxim Power Corp C$2.45 CAD +0.01
Northland Power Inc C$16.49 CAD -0.07
View Industry Companies
 

Industry Analysis

ATP

Industry Average

Valuation ATP Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 0.5x
Price/Book 0.8x
Price/Cash Flow 3.2x
TEV/Sales NM Not Meaningful
 | 

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact ATLANTIC POWER CORP, please visit www.atlanticpower.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.