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Inter Pipeline reports higher Q4'17 profit backed by NGL segment

Inter Pipeline Ltd. on Feb. 15 reported net income of C$141.9 million, or 37 Canadian cents per share, for the third quarter of 2017, up from C$125.8 million, or 35 cents per share, in the year-ago period.

Revenue for the quarter was C$618.3 million, jumping from C$560.7 million in the year-ago quarter. Total funds from operations amounted to C$267.8 million, or 71 cents per share, up from C$254.7 million, or 71 cents per share.

Funds from operations on the NGL processing business segment was reported at C$91.2 million for the quarter, climbing from C$65.0 million in the same quarter of 2016.

For the full year, Inter Pipeline reported net income of C$526.7 million, or C$1.41 per share, up from 2016's C$449.7 million, or C$1.31 per share.

Full-year revenue was reported at C$2.26 billion, up from C$1.82 billion posted in the prior year. Total funds from operations for the full year amounted to C$990.6 million, or C$2.65 per share, up from C$848.8 million, or C$2.47 per share, in the prior year.

Funds from operations on the NGL processing business segment drove the full-year results, which came in at C$279.6 million, up from C$147.8 million in 2016.