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EPCOR Utilities posts C$43M YOY increase in Q1 adjusted EBITDA

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EPCOR Utilities posts C$43M YOY increase in Q1 adjusted EBITDA

EPCOR Utilities Inc. on July 27 reported second-quarter adjusted EBITDA of C$178 million, compared to C$135 million in the prior-year period, a C$43 million increase due to the contribution from the company's drainage operations and higher revenues in the water services and U.S. operations segments.

Net income for the quarter was C$68 million, improving from C$56 million in the corresponding quarter of 2017. The Alberta-based company attributed the C$12 million year-over-year increase in net income to higher adjusted EBITDA and higher favorable fair value adjustments related to financial electricity purchase contracts in 2018.