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TransAlta Corp. raised its financial outlook for the year as it reported a loss of $12-million in its second quarter.

The power producer says the net loss for the quarter ended June 30 amounted to four cents per diluted share compared with a net loss of $60-million or 22 cents per share a year ago.

Revenue totalled $619-million, up from $437-million in the same quarter last year.

TransAlta says its comparable earnings before interest, taxes, depreciation and amortization amounted to $302-million for the quarter compared with $217-million in the same period in 2020.

In its revised outlook, the company says its comparable EBITDA for its full year is now estimated to be between $1.1-billion and $1.2-billion, up from an earlier forecast of between $960-million and $1.08-billion.

TransAlta also raised its estimate for free cash flow for the year to between $440-million and $515-million, up from an earlier estimate of between $340-million and $440-million.

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