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Hydro One Q1 adjusted EPS down YOY on weather impact

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Hydro One Q1 adjusted EPS down YOY on weather impact

Hydro One Ltd.reported first-quarter 2016 adjusted EPS of 35 Canadian cents per share, inline with the S&P Global Market Intelligence normalized EPS consensusestimate though lower than the 38 Canadian cents per share booked in the firstquarter of 2015.

First-quarter 2016 fund from operations decreased to C$382million from C$488 million in the opening months of 2015 while net cash fromoperating activities narrowed to C$373 million from C$426 million during thesame periods, respectively.

The company generated C$1.69 billion in revenues during thefirst three months of the year, down from C$1.81 billion in the year-agoquarter given lower energy consumption due to "unseasonably mild weather"and the divesture ofHydro One Brampton late in 2015.

First-quarter 2016 net income attributable to commonshareholders decreased to C$208 million, or 35 Canadian cents per share, fromC$228 million, or 47 Canadian cents per share, in the opening months of 2015.

The Hydro One board declared a quarterly cash dividend of 21Canadian cents per common share, payable June 30 to shareholders of record onJune 14.