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EPCOR Announces Quarterly Results

November 10, 2015
Published In: Corporate

In the quarter, the Company recorded a $50 million non-cash impairment charge related to its remaining investment in Capital Power Corporation (Capital Power) which fully offset the gains related to the Capital Power investment recorded in the second quarter.

Highlights of EPCOR's Financial Performance

  • Net loss was $13 million on revenues of $511 million for the three months ended September 30, 2015, compared with net income of $23 million on revenues of $506 million for the corresponding period in the previous year. Net income was lower in part due to the impairment of the available-for-sale investment in Capital Power and higher unfavorable fair value adjustments related to financial electricity purchase contracts, partially offset by higher approved water and electricity customer rates.
  • Net income was $195 million on revenues of $1,473 million for the nine months ended September 30, 2015, compared with net income of $116 million on revenues of $1,405 million for the corresponding period in the previous year. Net income was higher in part due to higher approved customer rates and higher Capital Power net income recorded in the first quarter.
  • Net cash flows from operating activities was $304 million for the nine months ended September 30, 2015, compared with $253 million for the corresponding period in the previous year. The increase was primarily due to higher funds from operations.
  • Investment in capital projects was $135 million for the three months ended September 30, 2015, compared with $111 million for the corresponding period in the previous year.
  • Investment in capital projects was $326 million for the nine months ended September 30, 2015, compared with $265 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.

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

 

 

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