Pattern Energy Group Inc. reported unaudited consolidated earnings results for the second quarter and six months of June 30, 2017. For the quarter, Total revenue was $107,760,000 against $93,438,000 reported a year ago. Operating income was $5,762,000 against $5,205,000 reported a year ago. Net loss before income tax was $10,143,000 against $14,217,000 reported a year ago. Net income attributable to the company was $14,220,000 or $0.16 per basic and diluted share against loss of $3,223,000 or $0.04 per basic and diluted share reported a year ago. Adjusted EBITDA was $91,869,000 against $78,633,000 reported a year ago. Cash available for distribution was $49.2 million for the second quarter of 2017 compared to $35.5 million for the same period last year. The increase in revenue was primarily due to an increase of $19.3 million in electricity sales due to the more favorable wind conditions compared to last year as well as the Broadview acquisition and a decrease of $4.7 million in unrealized losses primarily due to a larger decrease in the change in the forward gas price curves when compared to the prior period. The increase in adjusted EBITDA was primarily attributable to the increased electricity sales as well as production from Armow. These increases were partially offset by a $4.6 million increase in transmission cost and a $4.2 million increase in operating expenses. The 6% improvement in net loss in the quarterly period was primarily attributable to an increase in revenues of $14.3 million and a decrease of $3.5 million in other expense.

For the six months, Total revenue was $208,593,000 against $181,077,000 reported a year ago. Operating income was $19,135,000 against $6,728,000 reported a year ago. Net loss before income tax was $2,829,000 against $41,967,000 reported a year ago. Net income attributable to the company was $19,873,000 or $0.23 per basic and diluted share against loss of $26,893,000 or $0.36 per basic and diluted share reported a year ago. Net cash provided by operating activities was $157,183,000 against $69,976,000 reported a year ago. Capital expenditures were $39,087,000 against $25,953,000 reported a year ago. Adjusted EBITDA was $190,067,000 against $156,721,000 reported a year ago. Cash available for distribution was $94.4 million for the year to date 2017 compared to $76.5 million for the same period in the prior year. The $13.7 million increase, or approximately 39%, in the quarterly period was primarily due to a $9.7 million increase in revenues (excluding unrealized loss on energy derivative and amortization of PPAs), an $8.3 million network upgrade reimbursement primarily related to the Broadview project, and a $7.1 million increase in total distributions from unconsolidated investments.

The company reaffirmed cash available for distribution guidance of $140 million to $165 million for the full year of 2017. This 2017 guidance includes only the 19 operating projects, including Meikle, which it is agreed to acquire, and which is operational this -- earlier this year. The midpoint of the range represents approximately 15% growth in cash available for distribution versus last year.