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Hydro One reports Q4 profit up from year ago, helped by weather and lower taxes


TORONTO — Hydro One Ltd. says favourable weather and lower taxes helped boost its fourth-quarter results as it reported a profit of $162 million.

The Ontario power utility says the profit amounted to 27 cents per diluted share for the quarter ended Dec. 31.

That compared with a profit of $155 million or 26 cents per diluted share a year ago.

Revenue for the quarter totalled $1.56 billion, up from $1.44 billion.

On an adjusted basis, Hydro One says it earned 29 cents per diluted share, up form 28 cents per diluted share a year ago.

Analysts on average had expected a profit of 29 cents per share, according to Thomson Reuters Eikon.

 

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The Canadian Press

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