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AltaGas records YOY increase in Q2 normalized EBITDA, revenue

AltaGas Ltd. on Aug. 1 reported second-quarter 2019 normalized EBITDA of C$203 million, an increase from C$166 million in the comparable 2018 quarter.

The S&P Global Market Intelligence consensus estimate for the quarter was C$200.8 million.

Second-quarter normalized funds from operations dropped to C$120 million from C$121 million in the year-ago quarter.

The company posted a normalized net loss of C$5 million, or 2 Canadian cents per share, in the most recent quarter, compared with net income of C$23 million, or 13 cents per share, in the same period of 2018.

Revenue came in at C$1.17 billion, rising from C$610 million a year earlier.

AltaGas continues to target full-year 2019 normalized EBITDA in the range of C$1.2 billion to C$1.3 billion and normalized funds from operations in the range of C$850 million to C$950 million.