Boralex's (BLX) operating income rises 112%. A renewable stock to buy?

2 min read | November 12, 2021 10:46 AM EST | By Raza Naqvi

Boralex's (BLX) operating income rises 112%. A renewable stock to buy? — Image source: © Solarseven | Megapixl.com

Boralex's (TSX:BLX) financial performance: Key details

Apart from solid growth in operating income, Boralex submitted a bid for 800 MW of projects under NYSERDA and the company will wait for the outcome.

Boralex’s CEO Patrick Decostre revealed that the company has closed its first sustainable financing and will focus on Boralex's corporate social responsibility.

Third quarter results of Boralex announced.

In Q3 2021, the Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) was C$ 81 million compared to C$ 62 million in the third quarter of last year.

In addition, the net cash flow related to operating activities was C$ 47 million, down by C$ 26 million from Q3 2020. However, the cash flow from operations was C$ 66 million in Q3 2021, an increase of three million in comparison to the same comparable period last year.

Bottom line

Boralex claims to be at the forefront of changing the world as it is a major player in the renewable energy business. The company operates and develops renewable energy facilities in many countries, including the United States and France.

As countries are focusing on fighting climate change, Boralex has taken the responsibility to produce electricity through sustainable operations. The company produces renewable wind, thermal, hydroelectric, and solar energy.

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