First Gen Corp. said Monday its recurring net income attributable to the parent company declined 17.4 percent in the first nine months of 2024 to $205.5
million from $248.8 million in the same period last year on lower contribution from its geothermal, wind and solar platforms.
Meanwhile, net income attributable to the equity holders of the parent company decreased by 16.1 percent to $207 million in the first nine months from $246.8 million a year ago, as the contribution of Energy Development Corp. declined 41.1 percent to $59.7 million from $101.4 million. First Gen said the hydro platform recognized higher net income contribution of $9.8 million, up by 166.8 percent from $5.9 million in the same period last year as a result of the combined net income contribution of FG Hydro and the Casecnan hydro plant.
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