Newspaper article The Canadian Press

TransAlta Generates Higher Fourth-Quarter Earnings on Acquisition, Lower Costs

Newspaper article The Canadian Press

TransAlta Generates Higher Fourth-Quarter Earnings on Acquisition, Lower Costs

Article excerpt

TransAlta generates stronger Q4 earnings

--

CALGARY - TransAlta Corp. is reporting higher fourth-quarter profits on an Australian power plant acquisition and lower operations and maintenance costs.

The Calgary-based power producer (TSX:TA) says net earnings were $38 million, or 15 cents per share, an improvement from the $24 million, or 11 cents per share it reported during the same period a year earlier.

Comparable earnings were $54 million, or 21 cents per share, better than the $29 million, or 13 cents per share the company posted during the same 2011 quarter.

However, the improved profits missed the average analyst estimate of 28 cents per share, according to Thomson Reuters.

Revenues were $661 million, down from $701 million.

TransAlta shares were off four per cent to $15.71 in afternoon trading on the Toronto Stock Exchange.

The company said fleet availability in the quarter was strong at 89.4 per cent, a bit lower than the 90.3 rate it had a year earlier. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.