CALGARY, Alberta, May 07, 2026 (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, 2026. 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 7, 2026. All figures reported herein are Canadian dollars unless otherwise stated.

FINANCIAL HIGHLIGHTS

 

Three Months EndedMarch 31,

($ in thousands except per share amounts)

2026

2025

Revenue

15,618

20,253

Net income (loss)

(194)

3,266

Earnings per share, basic

0.00

0.05

Earnings per share, diluted

0.00

0.05

Adjusted EBITDA(1)

2,590

5,236

Total generation, (MWh)

306,764

413,031

Total fuel consumption, (GJ)

2,592,603

3,489,423

Average Alberta market power price ($ per MWh)

32.15

39.78

Average realized power price ($ per MWh)

50.91

49.04

Loans and borrowings

-

-

Net debt (net cash)(1)

(36,850)

(31,486)

Total assets

387,324

364,000

Free cash flow(1)

(16,806)

3,295

 

 

 

(1)   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 net debt, (see Non-GAAP Financial Measures below).

OPERATING RESULTS

During the first quarter of 2026, MAXIM recorded a net loss and Adjusted EBITDA(1) of $0.2 million and $2.6 million, respectively, as ...