FINWIRES · TerminalLIVE
FINWIRES

RBC Changes Estimates for Select Canadian Energy Infrastructure Companies

By

-- RBC Capital Markets on Monday outlined estimate changes for select Canadian energy infrastructure companies ahead of the first-quarter earnings season.

RBC raised the EBITDA estimate for Capital Power (CPX.TO) to C$400 million from $360 million while lowering the EBITDA forecast for Keyera (KEY.TO) to $210 million from $260 million. RBC cited seasonality profile changes to hedging and the related impacts.

The EBITDA projection for Northland Power (NPI.TO) was raised to $430 million from $405 million to reflect RBC's expectation of higher European offshore wind resources.

RBC cut the EBITDA estimate for TransAlta (TA.TO) to $217 million from $235 million due to lower power production levels.

RBC raised its earnings forecast for Emera (EMA.TO) to $1.20 per share from $1.17 per share mainly due to more favorable weather at Tampa Electric, and higher-than-expected pricing volatility.

The discounted cash flow estimate for Enbridge (ENB.TO) was lowered to $1.72 from $1.75 to reflect the anticipated impact from regulatory decisions by the CER on its MTS financial return calculation.

RBC reduced its EBITDA estimate for Gibson Energy (GEI.TO) to $149 million from $154 million, driven by lower observed shipping activity.

The earnings forecast for Hydro One (H.TO) was raised to $0.64 per share from $0.58 per share due to a higher-than-expected Ontario 60-minute peak demand and rate base growth.

RBC boosted the EBITDA estimate for Pembina (PPL.TO) to $1.097 billion from $1.063 billion, primarily due to improvements in the frac spread benefiting Marketing.

Price: $66.88, Change: $-0.37, Percent Change: -0.55%

Related Articles

Australia

Alignment Healthcare Swings to Q1 Profit, Revenue Rises; Shares Fall After Hours

Alignment Healthcare (ALHC) reported Q1 earnings late Thursday of $0.05 per diluted share, compared with the loss of $0.05 a year earlier.Analysts polled by FactSet expected earnings of $0.01.Revenue in the three months ended March 31 rose to $1.24 billion from $926.9 million a year ago.Analysts surveyed by FactSet expected $1.22 billion.The company expects revenue of $1.3 billion to $1.32 billion in Q2 and $5.16 billion to $5.21 billion in the full year.Analysts project $1.31 billion in Q2 and $5.17 billion in 2026.Alignment Healthcare shares fell 10% in after-hours trading.

$ALHC
Research

Research Alert: Columbia Sportswear Company Beats Estimates; Raises Full-year Guidance

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:COLM posted Q1 2026 EPS of $0.65 vs. $0.75 prior year, $0.30 above consensus on flat net sales of $779M, $21M above estimates. International diversification proved valuable with EMEA surging 35% and LAAP growing 5%, offsetting a 10% U.S. decline, while gross margin contracted 20 bps to 50.7% primarily from a 310-bp incremental tariff impact. We believe the international growth strategy is effectively insulating the company from U.S. tariff headwinds and positioning it for sustained global expansion. Management raised full-year EPS guidance to $3.55-$4.00 from prior $3.20-$3.65 and operating margin guidance to 6.7%-7.5% reflecting better tariff conditions. The company maintains its fortress balance sheet with $535.4M cash and no debt while executing a $150M share repurchase program. We are impressed with international performance driving growth and expect continued momentum from the ACCELERATE Growth Strategy targeting younger consumers, with shares trading at 17x forward EPS guidance.

$COLM
Mining & Metals

Fairfax India Holdings Corp Announcing FY25 Net Earnings of US$410.5M or $3.05 Net Earnings Per Diluted Share

$FIH-U.TO