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Valener's fiscal Q2'18 adjusted EPS grows YOY

Valener Inc. on May 10 posted adjusted net income attributable to common shareholders of C$33.9 million, or 87 Canadian cents per share, for the second quarter of its fiscal 2018, an increase from C$32.9 million, or 85 cents per share, a year earlier.

Énergir LP contributed adjusted net income attributable to partners of C$150 million, compared to C$142.5 million in the same quarter of fiscal 2017. The increase was primarily driven by the favorable impact of a regulatory timing difference in the Québec Energy Distribution segment combined with a strong Québec economy in the second quarter of fiscal 2018.

Normalized operating cash flows rose to C$14 million, or 36 cents per common share, compared to C$11.3 million, or 29 cents per share, a year earlier.

Valener is the public investment vehicle in Énergir. Gaz Métro announced its new identity as Énergir on Nov. 29, 2017.