Hydro One Ltd. on May 15 reported first-quarter 2018 adjusted net income attributable to common shareholders of C$210 million, or 35 cents per share, increasing from C$167 million, or 28 cents per share, a year earlier.
The S&P Capital IQ consensus normalized EPS estimate for the quarter was 34 cents.
GAAP net income attributable to common shareholders was C$222 million, or 37 cents per share, compared with C$167 million, or 28 cents per share, a year ago.
Net cash from operating activities dropped to C$376 million from C$471 million during the first quarter of 2017. Revenues totaled C$1.58 billion, up from C$1.66 billion a year ago.
During the first quarter of 2018, Hydro One made capital investments of C$305 million and placed C$145 million of new assets in service.
The company will pay an increased quarterly dividend of 23 cents per common share on June 29 to shareholders of record June 12. The dividend represents an increase of 5% since the last increase in May 2017.