Wednesday, February 14, 2024

 

Hydro One reports $181M profit in Q4, revenue up from year earlier

HYDRO ONE LTD (H:CT)

39.41 0.49 (1.23%)
As of: 02/14/24 2:40:11 am
REAL-TIME QUOTE. Prices update every five seconds for TSX-listed stocks
Jan '24May '23Sep '2332.53537.54042.5
Chart Type - 1year
See Full Stock Page »

Hydro One Ltd. reported $181 million in fourth-quarter net income attributable to common shareholders as its revenue edged higher compared with a year earlier.

The power utility says the profit amounted to 30 cents per diluted share for the quarter ended Dec. 31.

The result compared with a profit of $178 million or 30 cents per diluted share a year earlier.

Revenue totalled $1.98 billion, up from $1.86 billion in the fourth quarter of 2022, while revenue net of purchased power totalled $989 million, up from $967 million.

The increase was due in part to higher average monthly peak demand and energy consumption, as well as higher rates, partially offset by regulatory adjustments.

Hydro One is Ontario's largest electricity transmission and distribution provider

No comments: