Kinder Morgan Canada Limited Declares Dividend for the First Quarter of 2018, Payable on May 15, 2018; Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2018; Provides Earnings Guidance for the Year 2018
The company announced unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported revenues were CAD 164.2 million against CAD 164.5 million a year ago. Operating income was CAD 50.5 million against CAD 52.1 million a year ago. Income before income taxes was CAD 60.9 million against CAD 61 million a year ago. Net income was CAD 44.4 million against CAD 46.8 million a year ago. Net loss attributable to company was CAD 26.4 million against CAD 46.8 million a year ago. Total segment EBDA was CAD 117.2 million against CAD 110.4 million a year ago. Adjusted earnings were CAD 44.4 million against CAD 40.3 million a year ago. Adjusted EBITDA was CAD 98 million against CAD 93.6 million a year ago.
For the year 2018, the company expects adjusted EBITDA of CAD 474 million. Excluding capitalized equity financing costs, Adjusted EBITDA and DCF are budgeted to be CAD 403 million and CAD 278 million, respectively.