TransAlta Corp. reported a fourth-quarter profit of $66 million compared with a loss of $122 million in the fourth quarter of 2018.
The power producer says the profit amounted to 24 cents per diluted share for the three months ended Dec. 31 compared with a loss of 43 cents per diluted share in the last three months of 2018.
Revenue totalled $609 million, down from $622 million in the same quarter a year earlier.
Funds from operations for its most recent quarter were $189 million or 67 cents per share compared with $217 million or 76 cents per share in the same period a year earlier.
For the full year, TransAlta says it earned $52 million or 18 cents per diluted share on $2.35 billion in revenue in 2019. That compared with a loss of $248 million or 86 cents per diluted share on $2.25 billion in revenue in 2018.
TransAlta owns and operates electrical power generation assets in Canada, the United States and Australia.