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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Hydro One Limited    H   CA4488112083

HYDRO ONE LIMITED

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Hydro One : Impairment Reversal Boosts 2Q Profit Rise

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08/11/2020 | 08:45am EDT

By Adriano Marchese

 

Hydro One Ltd. on Tuesday reported that net profit soared in the second quarter, and said that it benefited from a one-time reversal of an impairment charge in the period.

The Ontario electricity transmission and distribution provider earned a quarterly profit of 1.1 billion Canadian dollars (US$823.8 million), or C$1.84 a share, compared with C$155 million, or C$0.26, for the same period last year.

The company said the change in EPS was driven by a number of factors, including the Ontario Divisional Court's decision on the deferred tax-asset appeal, which contributed a one-time C$867 million to its net income, as well as hotter weather in the period.

Excluding items, Hydro One reported an adjusted profit of C$0.39 a share for the quarter, soundly beating analysts' forecasts of C$0.31, polled on FactSet.

Revenue rose to C$1.67 billion from C$1.41 billion.

The company said that its productivity savings were around C$86 million, which it said represents nearly 62% increase year-over-year, compared with the previous year period.

 

Write to Adriano Marchese at adriano.marchese@wsj.com

 


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Financials
Sales 2020 6 782 M 5 083 M 5 083 M
Net income 2020 1 557 M 1 167 M 1 167 M
Net Debt 2020 13 139 M 9 848 M 9 848 M
P/E ratio 2020 11,5x
Yield 2020 3,40%
Capitalization 17 658 M 13 223 M 13 235 M
EV / Sales 2020 4,54x
EV / Sales 2021 4,40x
Nbr of Employees 5 730
Free-Float 52,7%
Chart HYDRO ONE LIMITED
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Technical analysis trends HYDRO ONE LIMITED
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 16
Average target price 29,19 CAD
Last Close Price 29,55 CAD
Spread / Highest target 8,29%
Spread / Average Target -1,23%
Spread / Lowest Target -15,4%
EPS Revisions
Managers
NameTitle
Mark Poweska President, Chief Executive Officer & Director
Timothy E. Hodgson Chairman
David Lebeter Chief Operating Officer
Christopher Lopez Chief Financial Officer
Brad Mitchell Bowness Chief Information Officer
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