TerraForm Q2 Net Income Rises; Reaffirms 2015 And 2016 Dividend Guidance

(RTTNews) - TerraForm Power, Inc. (TERP), a global owner and operator of clean energy power plants, reported second quarter 2015 net income to Class A common stockholders of $17.4 million or $0.10 per share, compared to break-even, prior year. The company generated Cash Available for Distribution, or CAFD, of $65 million in second quarter 2015.

On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.20 for the quarter. Analysts' estimates typically exclude special items.

Revenue increased to $130.05 million from $22.38 million last year. TerraForm Power reported adjusted revenue of $132 million, for the quarter. Analysts expected revenue of $136.87 million for the quarter.

TerraForm Power announced that its Board has declared a second quarter dividend for Class A common stock of $0.335 per share, or $1.34 per share on an annualized basis.

TerraForm Power reaffirmed its 2015 CAFD guidance of $225 million and DPS guidance of $1.35. The company also reaffirmed its 2016 dividend guidance of $1.75 per share.