Skip to main content

The Hydro One Pleasant Transfer Station in Brampton, Ont.

Tim Fraser/The Globe and Mail

Hydro One Ltd. topped expectations as it reported its fourth-quarter profit was up more than 20 per cent compared with a year ago.

The parent company of Ontario's largest electricity transmission and distribution utility says it earned a profit attributable to common shareholders of $155-million or 26 cents per diluted share in the quarter ended Dec. 31.

That compared with a profit of $128-million or 21 cents per diluted share in the last three months of 2016.

Story continues below advertisement

On an adjusted basis, Hydro One says it earned $170-million or 28 cents per diluted share, up from $128-million or 21 cents per diluted share a year earlier.

Analysts on average had expected a profit of 25 cents per share for the quarter, according to Thomson Reuters.

Revenue totalled $1.44-billion, down from $1.61-billion, while revenue net of purchased power amounted to $777-million, up from $756-million in the same quarter in 2016.

Report an error
Tickers mentioned in this story
Unchecking box will stop auto data updates
Comments are closed

We have closed comments on this story for legal reasons or for abuse. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.