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Hydro One Q2 adjusted earnings decrease YOY, fall short of analyst estimates

Hydro One Ltd. on Aug. 9 reported second-quarter 2019 adjusted net income attributable to common shareholders of C$155 million, or 26 Canadian cents per share, compared to C$194 million, or 32 cents per share, in the same quarter of 2018.

The S&P Global Market Intelligence consensus normalized EPS estimate for the quarter was 27 cents.

GAAP net income attributable to common shareholders was C$155 million, or 26 cents per share, compared to C$200 million, or 33 cents per share, in the year-ago quarter.

Second-quarter revenues totaled C$1.41 billion, a decrease from C$1.48 billion a year ago. The company reported second-quarter net cash from operating activities of C$297 million, rising from C$292 million a year earlier.

The utility will pay a quarterly cash dividend of 24.15 cents per share Sept. 30 to shareholders of record Sept. 12.