Valener Inc. announced earnings results for the third quarter and nine months ended June 30, 2018. For the quarter, the company reported net income attributable to common shareholders of $0.5 million compared to $1.8 million a year ago. Adjusted net income attributable to common shareholders was $0.5 million or $0.01 per common share compared to $2.5 million or $0.06 per common share a year ago. Normalized operating cash flows were $12.8 million or $0.33 per common share compared to $14.4 million or $0.37 per common share a year ago. Cash flows related to operating activities was $14.0 million compared to $15.5 million a year ago.

For the nine months, the company reported, net income attributable to common shareholders of $47.6 million compared to $56.3 million a year ago. Adjusted net income attributable to common shareholders was $54.4 million or $1.39 per common share compared to $55.7 million or $1.44 per common share a year ago. Normalized operating cash flows were $38.1 million or $0.98 per common share compared to $37.9 million or $0.98 per common share a year ago. Basic and diluted per unit was $1.39 compared to $1.44 a year ago. Cash flows related to operating activities was $41.5 million compared to $41.2 million a year ago.

The company expects to deploy $20 million of CapEx in the fourth quarter.

For the year, the company expects to deploy $50 million for Standard Solar.