logo
Share SHARE
FONT-SIZE Plus   Neg

TransCanada Q1 Profit Slides - Quick Facts

TransCanada Corp. (TRP.TO,TRP) posted lower first-quarter comparable earnings of C$363 million or C$0.52 per share versus C$423 million or C$0.61 per share for the same period in 2011. On average, 10 analysts polled by Thomson Reuters expected earnings per share of C$0.54 for the quarter. Analysts' estimates typically exclude one-time items.

The company said the incremental earnings from Keystone and other recently commissioned assets were more than offset by lower contributions from Bruce Power related to planned maintenance outages, reduced revenues from U.S. natural gas pipelines and natural gas storage, higher interest expense as a result of lower capitalized interest and reduced contributions from the Canadian Mainline and U.S. Power.

Net income attributable to common shares for the recent quarter slid to C$352 million or C$0.50 per share from last year's C$411 million or C$0.59 per share.

Revenues were C$1.91 billion, higher than C$1.87 billion in the comparable period a year ago.

Separately, TransCanada's board has declared a quarterly dividend of C$0.44 per share for the quarter ending June 30, 2012, equivalent to C$1.76 per share on an annualized basis.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Major League Baseball is talking expansion for the first time in a few decades. Owners stand to make a pretty penny from expansion fees and subsequent television rights. The possibility of a more balanced schedule is also enticing. Strong expansion candidates in the U.S. and Canada are ready... The New York Times is teaming up with Google again to give away Google Cardboard, the virtual reality headsets, but this time only to its "most loyal" digital subscribers. The company said that the digital-only subscribers selected for this distribution were chosen based on the duration of their subscriptions. Oil company Exxon Mobil Corp. on Friday reported a 63 percent fall in profit for the first quarter from last year, while Chevron Corp. reported a loss for the quarter, both on lower revenues. The results were impacted by the fall in crude oil prices and weaker refining margins. However, Exxon Mobil's earnings beat analysts' estimates, while Chevron's loss was wider than their expectations.
comments powered by Disqus
Follow RTT