reportedfirst-quarter comparable earnings of C$494 million, or 70 Canadian cents pershare, compared to C$465 million, or 66 Canadian cents per share, in theyear-ago quarter.
The S&PCapital IQ consensus normalized EPS estimate for the first quarter was 66Canadian cents.
Net incomeattributable to common shares was C$252 million, or 36 Canadian cents pershare, compared to C$387 million, or 55 Canadian cents per share, in the sameperiod of 2015, according to an April 29 earnings release.
"Duringthe first quarter of 2016, our diverse portfolio of high-quality long-lifeassets generated steady results in what continues to be a challengingenvironment," CEO Russ Girling said.
First-quartercomparable EBITDA amounted to C$1.50 billion, compared to C$1.53 billion in theyear-ago quarter. Comparable distributable cash flow for the first quarter wasC$970 million, or C$1.38 per share, compared to C$956 million, or C$1.35 pershare, in the prior-year quarter.
Fundsgenerated from operations totaled C$1.13 billion, compared to C$1.15 billion inthe same period of 2015, while revenues for the first quarter was reported atC$2.55 billion, compared to C$2.87 billion in the year-ago quarter.
First-quarter2016 results included a net after-tax charge of C$211 million, consisting ofC$176 million relating to the remaining net book value associated TransCanada'stermination of its Alberta power purchase arrangements, C$26 million related tothe proposedacquisition of Columbia Pipeline Group Inc., C$6 million of costs and a C$3million after-tax loss on the sale of TCOffshore LLC. The items were excluded from comparable earnings.
TransCanada in March struck an agreement to buy Columbia forUS$13 billion, including assumed debt. "The acquisition represents a rareopportunity to invest in an extensive, competitively positioned, growingnetwork of regulated natural gas pipeline and storage assets in the Marcellusand