Net earnings fell to C$13 million from C$46 million, while adjusted Ebitda dropped to C$204 million from C$270 million and missed analysts' C$217 million forecast.
Revenue declined 25% to C$565 million as production fell to 5,444 gigawatt hours from 6,832, and operational availability edged down to 93.8% from 94.9%.
Chief executive Joel Hunter said Alberta headwinds were materialising, but the company kept its 2026 outlook and highlighted February's C$95 million Far North Power acquisition in Ontario.
Is TransAlta's pivot to powering AI a masterstroke or a massive gamble on an unstable grid?
With Alberta wholesale power at a decade low, why are consumer electricity bills still soaring?