Boralex Inc
TSX:BLX
Income Statement
Earnings Waterfall
Boralex Inc
Revenue
|
1B
CAD
|
Cost of Revenue
|
-380m
CAD
|
Gross Profit
|
642m
CAD
|
Operating Expenses
|
-396m
CAD
|
Operating Income
|
246m
CAD
|
Other Expenses
|
-168m
CAD
|
Net Income
|
78m
CAD
|
Income Statement
Boralex Inc
Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
172
N/A
|
184
+7%
|
188
+2%
|
191
+1%
|
195
+2%
|
205
+5%
|
219
+7%
|
240
+10%
|
268
+11%
|
318
+19%
|
336
+6%
|
337
+0%
|
302
-10%
|
344
+14%
|
344
N/A
|
364
+6%
|
419
+15%
|
436
+4%
|
456
+5%
|
461
+1%
|
479
+4%
|
500
+4%
|
526
+5%
|
541
+3%
|
574
+6%
|
603
+5%
|
604
+0%
|
617
+2%
|
633
+3%
|
640
+1%
|
667
+4%
|
689
+3%
|
691
+0%
|
710
+3%
|
731
+3%
|
707
-3%
|
836
+18%
|
910
+9%
|
954
+5%
|
1 026
+8%
|
1 022
0%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(54)
|
(60)
|
(62)
|
(63)
|
(64)
|
(67)
|
(70)
|
(74)
|
(78)
|
(84)
|
(88)
|
(89)
|
(87)
|
(95)
|
(97)
|
(102)
|
(108)
|
(117)
|
(123)
|
(124)
|
(133)
|
(137)
|
(133)
|
(135)
|
(127)
|
(130)
|
(133)
|
(135)
|
(151)
|
(159)
|
(163)
|
(167)
|
(153)
|
(147)
|
(145)
|
(144)
|
(258)
|
(337)
|
(387)
|
(424)
|
(380)
|
|
Gross Profit |
118
N/A
|
125
+6%
|
126
+1%
|
128
+2%
|
131
+3%
|
138
+6%
|
149
+8%
|
166
+11%
|
189
+14%
|
234
+23%
|
248
+6%
|
247
0%
|
215
-13%
|
249
+16%
|
247
-1%
|
262
+6%
|
311
+19%
|
319
+3%
|
333
+4%
|
337
+1%
|
346
+3%
|
363
+5%
|
393
+8%
|
406
+3%
|
447
+10%
|
473
+6%
|
471
0%
|
482
+2%
|
482
N/A
|
481
0%
|
504
+5%
|
522
+4%
|
538
+3%
|
563
+5%
|
586
+4%
|
563
-4%
|
578
+3%
|
573
-1%
|
567
-1%
|
602
+6%
|
642
+7%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(71)
|
(72)
|
(75)
|
(76)
|
(82)
|
(91)
|
(103)
|
(115)
|
(125)
|
(147)
|
(154)
|
(159)
|
(148)
|
(170)
|
(177)
|
(191)
|
(213)
|
(221)
|
(234)
|
(255)
|
(264)
|
(282)
|
(301)
|
(305)
|
(302)
|
(298)
|
(290)
|
(288)
|
(303)
|
(309)
|
(330)
|
(344)
|
(352)
|
(363)
|
(365)
|
(380)
|
(381)
|
(391)
|
(394)
|
(385)
|
(396)
|
|
Selling, General & Administrative |
(13)
|
(13)
|
(13)
|
(13)
|
(14)
|
(14)
|
(15)
|
(16)
|
(18)
|
(17)
|
(18)
|
(18)
|
(18)
|
(19)
|
(21)
|
(22)
|
(25)
|
(28)
|
(29)
|
(31)
|
(31)
|
(31)
|
(32)
|
(33)
|
(35)
|
(37)
|
(37)
|
(38)
|
(44)
|
(43)
|
(43)
|
(42)
|
(37)
|
(39)
|
(44)
|
(49)
|
(55)
|
(60)
|
(62)
|
(63)
|
(64)
|
|
Research & Development |
(4)
|
(4)
|
(5)
|
(5)
|
(10)
|
(12)
|
(12)
|
(13)
|
(10)
|
(11)
|
(11)
|
(14)
|
(13)
|
(13)
|
(15)
|
(14)
|
(17)
|
(20)
|
(20)
|
(23)
|
(26)
|
(26)
|
(28)
|
(27)
|
(24)
|
(23)
|
(21)
|
(22)
|
(23)
|
(23)
|
(25)
|
(25)
|
(24)
|
(26)
|
(28)
|
(30)
|
(33)
|
(37)
|
(38)
|
(37)
|
(40)
|
|
Depreciation & Amortization |
(54)
|
(56)
|
(57)
|
(59)
|
(60)
|
(66)
|
(78)
|
(87)
|
(97)
|
(117)
|
(124)
|
(130)
|
(116)
|
(137)
|
(140)
|
(154)
|
(172)
|
(174)
|
(185)
|
(201)
|
(208)
|
(226)
|
(242)
|
(246)
|
(244)
|
(240)
|
(234)
|
(230)
|
(237)
|
(253)
|
(267)
|
(282)
|
(297)
|
(294)
|
(294)
|
(304)
|
(295)
|
(296)
|
(296)
|
(285)
|
(293)
|
|
Other Operating Expenses |
0
|
1
|
1
|
1
|
2
|
1
|
2
|
1
|
0
|
(1)
|
(1)
|
2
|
(1)
|
(1)
|
(1)
|
0
|
1
|
0
|
0
|
0
|
1
|
0
|
0
|
1
|
1
|
0
|
0
|
2
|
1
|
10
|
5
|
5
|
6
|
(4)
|
1
|
3
|
2
|
0
|
0
|
0
|
1
|
|
Operating Income |
47
N/A
|
53
+13%
|
51
-3%
|
52
+1%
|
49
-5%
|
48
-2%
|
46
-3%
|
51
+10%
|
65
+28%
|
87
+34%
|
95
+9%
|
89
-6%
|
67
-24%
|
79
+17%
|
70
-11%
|
71
+1%
|
98
+39%
|
98
N/A
|
99
+1%
|
82
-17%
|
82
N/A
|
81
-1%
|
92
+14%
|
101
+10%
|
145
+44%
|
175
+21%
|
181
+3%
|
194
+7%
|
179
-8%
|
172
-4%
|
174
+1%
|
178
+2%
|
186
+4%
|
200
+8%
|
221
+11%
|
183
-17%
|
197
+8%
|
182
-8%
|
173
-5%
|
217
+25%
|
246
+13%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
(51)
|
(51)
|
(55)
|
(57)
|
(63)
|
(67)
|
(67)
|
(75)
|
(71)
|
(79)
|
(89)
|
(77)
|
(73)
|
(95)
|
(82)
|
(102)
|
(97)
|
(91)
|
(106)
|
(108)
|
(112)
|
(109)
|
(115)
|
(115)
|
(127)
|
(136)
|
(135)
|
(120)
|
(88)
|
(114)
|
(119)
|
(134)
|
(135)
|
(124)
|
(110)
|
(109)
|
(93)
|
(92)
|
(76)
|
(74)
|
(70)
|
|
Non-Reccuring Items |
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
(3)
|
(3)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(19)
|
(20)
|
(20)
|
(22)
|
(3)
|
(2)
|
(55)
|
(55)
|
(55)
|
(55)
|
(18)
|
(22)
|
(24)
|
(24)
|
(8)
|
(6)
|
(7)
|
(10)
|
(89)
|
(87)
|
(85)
|
(83)
|
(23)
|
|
Total Other Income |
(0)
|
(0)
|
(0)
|
(0)
|
(1)
|
(0)
|
0
|
(0)
|
(1)
|
0
|
0
|
0
|
(1)
|
0
|
0
|
0
|
(1)
|
0
|
(1)
|
0
|
(2)
|
4
|
2
|
(1)
|
(11)
|
(10)
|
(6)
|
(2)
|
(7)
|
21
|
21
|
18
|
1
|
(3)
|
(10)
|
(14)
|
3
|
5
|
6
|
18
|
1
|
|
Pre-Tax Income |
(5)
N/A
|
1
N/A
|
(4)
N/A
|
(5)
-42%
|
(15)
-186%
|
(20)
-36%
|
(21)
-8%
|
(27)
-25%
|
(10)
+64%
|
8
N/A
|
5
-34%
|
11
+106%
|
(7)
N/A
|
(17)
-137%
|
(13)
+24%
|
(32)
-151%
|
0
N/A
|
7
N/A
|
(27)
N/A
|
(46)
-70%
|
(52)
-13%
|
(46)
+12%
|
(24)
+48%
|
(17)
+29%
|
(48)
-182%
|
(26)
+46%
|
(15)
+42%
|
17
N/A
|
66
+288%
|
57
-14%
|
52
-9%
|
38
-27%
|
44
+16%
|
67
+52%
|
94
+40%
|
50
-47%
|
18
-64%
|
8
-56%
|
18
+125%
|
78
+333%
|
154
+97%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(1)
|
(3)
|
(2)
|
(1)
|
1
|
4
|
5
|
6
|
2
|
(4)
|
(3)
|
(3)
|
9
|
12
|
8
|
11
|
10
|
10
|
18
|
23
|
14
|
13
|
9
|
6
|
5
|
(4)
|
(6)
|
(10)
|
(5)
|
(2)
|
1
|
1
|
(18)
|
(22)
|
(27)
|
(17)
|
(10)
|
(2)
|
(4)
|
(10)
|
(39)
|
|
Income from Continuing Operations |
(5)
|
(1)
|
(5)
|
(6)
|
(14)
|
(16)
|
(16)
|
(20)
|
(8)
|
4
|
3
|
8
|
2
|
(5)
|
(5)
|
(21)
|
10
|
17
|
(9)
|
(23)
|
(38)
|
(33)
|
(15)
|
(11)
|
(43)
|
(30)
|
(21)
|
7
|
61
|
55
|
53
|
39
|
26
|
45
|
67
|
33
|
8
|
6
|
14
|
68
|
115
|
|
Income to Minority Interest |
0
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(2)
|
(3)
|
(3)
|
(3)
|
(3)
|
(2)
|
(4)
|
(1)
|
5
|
15
|
12
|
9
|
8
|
4
|
8
|
9
|
6
|
7
|
4
|
3
|
1
|
(4)
|
(6)
|
(7)
|
(12)
|
(12)
|
(9)
|
(12)
|
(11)
|
(1)
|
22
|
17
|
18
|
5
|
(37)
|
|
Net Income (Common) |
(4)
N/A
|
(0)
+97%
|
(3)
-3 200%
|
(5)
-52%
|
(12)
-136%
|
(15)
-23%
|
(17)
-14%
|
(23)
-38%
|
(11)
+52%
|
1
N/A
|
0
-70%
|
6
+1 800%
|
(2)
N/A
|
(5)
-140%
|
0
N/A
|
(6)
N/A
|
22
N/A
|
25
+14%
|
(1)
N/A
|
(19)
-1 800%
|
(30)
-58%
|
(24)
+20%
|
(9)
+63%
|
(4)
+56%
|
(39)
-875%
|
(27)
+31%
|
(20)
+26%
|
3
N/A
|
55
+1 733%
|
48
-13%
|
41
-15%
|
27
-34%
|
17
-37%
|
33
+94%
|
56
+70%
|
32
-43%
|
30
-6%
|
23
-23%
|
32
+39%
|
73
+128%
|
78
+7%
|
|
EPS (Diluted) |
-0.1
N/A
|
0
N/A
|
-0.08
N/A
|
-0.13
-63%
|
-0.3
-131%
|
-0.2
+33%
|
-0.34
-70%
|
-0.46
-35%
|
-0.21
+54%
|
0.01
N/A
|
0
N/A
|
0.09
N/A
|
-0.03
N/A
|
-0.06
-100%
|
0
N/A
|
-0.09
N/A
|
0.29
N/A
|
0.3
+3%
|
-0.01
N/A
|
-0.26
-2 500%
|
-0.37
-42%
|
-0.24
+35%
|
-0.1
+58%
|
-0.06
+40%
|
-0.43
-617%
|
-0.27
+37%
|
-0.2
+26%
|
0.03
N/A
|
0.56
+1 767%
|
0.46
-18%
|
0.39
-15%
|
0.26
-33%
|
0.17
-35%
|
0.32
+88%
|
0.55
+72%
|
0.31
-44%
|
0.29
-6%
|
0.22
-24%
|
0.31
+41%
|
0.71
+129%
|
0.76
+7%
|