By Adriano Marchese
AltaGas Ltd. on Thursday reported a higher second-quarter profit as revenue nearly doubled year on year.
The Calgary-based energy infrastructure company said earnings per share were 9 Canadian cents (7 cents), up from C$0.08 in the comparable quarter a year ago.
Net income was C$24 million, compared with C$21 million a year ago.
Normalized net earnings were C$0.08 a share. According to FactSet, analysts were expecting C$0.01 a share.
Normalized funds from operations rose to C$0.56 in the quarter, compared with C$0.51 in the second quarter of 2020, which the company credits primarily to a strong execution across all its segments.
Revenue rose to C$2.01 billion from C$1.06 billion.
The company maintained its full-year earnings guidance of $1.65 to $1.80 a share.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires