Business
Maxim Power Corp. Announces 2025 First Quarter Financial and Operating Results
CALGARY, Alberta, May 08, 2025 (GLOBE NEWSWIRE) -- Maxim Power Corp. ("MAXIM" or the "Corporation...
About this update from Maxim Power Corp.
[{"type":"text","content":"Maxim Power Corp. Announces 2025 First Quarter Financial and Operating Results\n\n\n\n CALGARY, Alberta, May 08, 2025 (GLOBE NEWSWIRE) -- Maxim Power Corp. (\"MAXIM\" or the \"Corporation\") (TSX: MXG) announced today the release of financial and operating results for the first quarter ended March 31, 2025. The unaudited condensed consolidated interim financial statements, accompanying notes and Management’s Discussion and Analysis (“MD&A”) will be available on SEDAR+ and on MAXIM's website on May 8, 2025. All figures reported herein are Canadian dollars unless otherwise stated.\n \n\n\n FINANCIAL HIGHLIGHTS\n \n\n\n\n\n\n\n\n Three Months Ended\n \n\n\n March 31,\n \n\n\n\n\n\n ($ in thousands except per share amounts)\n \n\n\n\n 2025\n \n\n\n\n 2024\n \n\n\n\n\n\n Revenue\n \n\n\n\n 20,253\n \n\n\n 34,768\n \n\n\n\n\n Net income\n \n\n\n\n 3,266\n \n\n\n 10,487\n \n\n\n\n\n Earnings per share – basic\n \n\n\n\n 0.05\n \n\n\n 0.21\n \n\n\n\n\n Earnings per share – diluted\n \n\n\n\n 0.05\n \n\n\n 0.18\n \n\n\n\n\n Adjusted EBITDA\n \n\n (\n \n\n 1)\n \n\n\n\n 5,236\n \n\n\n 15,922\n \n\n\n\n\n Total generation – (MWh)\n \n\n\n\n 413,031\n \n\n\n 476,531\n \n\n\n\n\n Total fuel consumption – (GJ)\n \n\n\n\n 3,489,423\n \n\n\n 3,915,660\n \n\n\n\n\n Average Alberta market power price ($ per MWh)\n \n\n\n\n 39.78\n \n\n\n 99.30\n \n\n\n\n\n Average realized power price ($ per MWh)\n \n\n\n\n 49.04\n \n\n\n 72.96\n \n\n\n\n\n Loans and borrowings\n \n\n\n\n -\n \n\n\n 80,782\n \n\n\n\n\n Total net debt (net cash)\n \n\n (\n \n\n 1)\n \n\n\n\n (31,486)\n \n\n\n (4,425)\n \n\n\n\n\n Total assets\n \n\n\n\n 364,000\n \n\n\n 435,438\n \n\n\n\n\n Free cash flow\n \n\n (\n \n\n 1)\n \n\n\n\n 3,295\n \n\n\n 13,018\n \n\n\n\n\n\n\n\n\n (1)\n \n\n Select financial information was derived from the consolidated financial statements and is prepared in accordance with GAAP, except certain non-GAAP measures including: free cash flow (“FCF”), adjusted Earnings before Interest, Income Taxes, Depreciation and Amortization (“Adjusted EBITDA”) and total net debt, (see\n \n\n Non-GAAP Financial Measures\n \n\n below). Total net debt is included in the notes to the annual consolidated financial statements. Net debt is calculated to include: loans and borrowings (including ...