Boralex shares jumped more than 6% on the Toronto Stock Exchange on Monday afternoon after the renewable energy producer posted higher profits in the second quarter.
The company reported net income attributable to shareholders of 19 million, or 19 cents per share, compared to 10 million or 10 cents per share last year.
Income generated by the sale of energy and additional compensation reached 210 million, up 25% compared to the second quarter of 2022.
The company attributed the increase to higher power prices and commissioning in France as well as the contribution from the acquisition of wind assets in the United States.
Boralex assured that these gains more than offset the unfavorable impact of weather conditions in North America at the end of the quarter.
Boralex shares closed up $1.84, or 6.15%, at $31.78 on the Toronto trading floor on Monday.
