Husky Energy Inc. said its third-quarter normalized net income amounted to a loss of C$3.45 per share, compared with the S&P Capital IQ consensus estimate of a loss of 10 cents per share.
The per-share result swung to a loss from the prior-year profit of 50 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of C$3.40 billion, compared with income of C$496.9 million in the prior-year period.
The normalized profit margin fell to negative 81.0% from 7.7% in the year-earlier period.
Total revenue fell 34.6% on an annual basis to C$4.20 billion from C$6.43 billion, and total operating expenses rose 70.4% from the prior-year period to C$9.57 billion from C$5.62 billion.
Reported net income came to a loss of C$4.12 billion, or a loss of C$4.19 per share, compared with income of C$508.0 million, or 52 cents per share, in the year-earlier period.
