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Hydro One books higher Q2'18 adjusted net income

Hydro One Ltd. on Aug. 14 booked adjusted net income attributable to common shareholders of C$194 million, or 32 Canadian cents per diluted share, compared to C$117 million, or 20 Canadian cents per diluted share, in the same quarter in 2017.

Adjusted earnings per share exclude the impact of C$6 million in income related to the company's pending merger with Avista Corp.

GAAP net income attributable to common shareholders was C$200 million, or 33 Canadian cents per diluted share, compared to C$117 million, or 20 Canadian cents per diluted share, a year ago.

Net cash from operating activities increased to C$292 million, from C$280 million, while revenues for the quarter also increased to C$1.48 billion, from C$1.37 billion, a year ago.