TransCanada Q1 profit more than doubles

CALGARY — TransCanada Corp. (TSX:TRP) says its first-quarter profit more than doubled what it was last year as revenue increased by 35 per cent.

The Calgary-based company says it benefited from higher contributions from its U.S. and Mexican natural gas pipelines.

The net profit attributable to common shareholders amounted to $643 million or 74 cents per share for the quarter ended March 31, up from $252 million or 36 cents per share a year ago.

Revenue was $3.39 billion, up from $2.50 billion in the first quarter of 2016 and about $200 million above analyst estimates.

After adjustments, TransCanada’s comparable earnings were $698 million or 81 cents per share for its most recent quarter, up from $494 million or 70 cents per share a year ago.

Analysts had expected 74 cents per share, according to Thomson Reuters data.

Just Posted

Accused murderer’s story questioned

Jason Klaus spends day being cross-examined by lawyer for co-accused Joshua Frank

Red Deer Royals extend fundraising deadline for St. Joseph fieldhouse project

Fundraising chair says it’s a tough slog raising money in this economy

Red Deer seeks public input on coming changes to sign bylaw

A half-kilometre buffer zone could separate billboards in Red Deer under proposed… Continue reading

Innisfail man injured in home invasion

Police say the injury was non life-threatening

Credentials questioned man at Remembrance Day services

Veterans are crying foul after an alleged faker posed as a former… Continue reading

VIDEO: Red Deerians taste what the city has to offer

Red Deerians sampled some of the finest foods Central Alberta restaurants have… Continue reading

Volunteer with victim services in Red Deer

Learn more at info session on Nov. 27

Updated: Missing Sylvan Lake women found

Women were reported missing earlier this week

Liberals propose billions for affordable housing, including individual benefits

A Liberal government fond of promising help for those working hard to… Continue reading

Alberta Party sees growth in Central Alberta

Greg Clark addressed health care needs addressed in Red Deer

Ponoka council freezes Ponoka Fire Department spending

All discretionary spending frozen until full budget numbers are presented

WATCH: Ponoka’s Festival of Trees sees continued support

Three days of celebration and fundraising held at the Calnash Ag Event Centre

Creationist will speak at home-schooling convention in Red Deer

Ken Ham has debated Bill Nye on the Earth’s origins

Most Read


Five-day delivery plus unlimited digital access for $185 for 260 issues (must live in delivery area to qualify) Unlimited Digital Access 99 cents for the first four weeks and then only $15 per month Five-day delivery plus unlimited digital access for $15 a month