Skip ribbon commands
Skip to main content

Epcor Announces Quarterly Results

August 05, 2015

" EPCOR's financial and operational results for the second quarter show our core operations are performing well. The quarter also included a significant gain related to a sale of Capital Power shares in April and temporary fair value adjustments on financial electricity purchases contracts."

- David Stevens, EPCOR President & CEO

Discover more in:
 
{{article.Title}}
{{article.ArticleDate | jsonDate:'MMMM dd, yyyy'}}

Highlights of EPCOR's financial performance:

  • Net income was $139 million and $208 million on revenues of $489 million and $962 million for the three and six months ended June 30, 2015, respectively, compared with $55 million and $93 million on revenues of $435 million and $899 million for the corresponding period in the previous year. Net income was higher in part due to gains associated with the partial sell-down and reclassification of the Company's investment in Capital Power. Also, the increase in net income was due to higher favorable fair value adjustments related to financial electricity purchase contracts and higher approved customer rates.
  • Net cash flows from operating activities was $283 million for the six months ended June 30, 2015, compared with $182 million for the corresponding period in the previous year. The increase was due to higher funds from operations and higher non-cash operating working capital.
  • Investment in capital projects was $121 million for the three months ended June 30, 2015, compared with $91 million for the corresponding period in the previous year.
  • Investment in capital projects was $191 million for the six months ended June 30, 2015, compared with $154 million for the corresponding period in the previous year.

Management's discussion and analysis (MD&A) of the quarterly results are shown below. The MD&A and the unaudited condensed consolidated interim financial statements are available on EPCOR's website and SEDAR.

EPCOR's wholly owned subsidiaries build, own and operate electrical transmission and distribution networks, water and wastewater treatment facilities and infrastructure in Canada and the United States. The Company's subsidiaries also provide electricity and water services and products to residential and commercial customers. EPCOR, headquartered in Edmonton, is an Alberta top 70 employer. EPCOR's website address is www.epcor.com.

For more information, please contact:

Tim​ LeRiche
Media Relations
Phone: (780) 969-8238


Claudio Pucc​i
Investor/Corporate Relations
Phone: (780) 969-8245
Toll Free: 1-877-969-8280