From Marketwatch - Profit, revenue beat views in 1Q. Net income applicable to common shares was C$357 million, compared with C$337 million a year ago.
Normalized net income, which excludes expenses and nonrecurring revenue, was C$1.01 a share. According to FactSet, analysts were expecting C$0.92 a share.
Meanwhile, normalized funds from operations fell to C$462 million from C$583 million.
AltaGas said the results were reflective of strong operating results across its platform, offset by a $114 million of lost normalized earnings before interest, taxes, depreciation and amortization from its U.S. transportation and storage business.
Revenue rose to C$3.89 billion from C$3.09 billion. Revenue was expected at C$2.88 billion.
The company reiterated its guidance for the full year of normalized earnings of C$1.80 and C$1.95, compared with C$1.78 in 2021.
Normalized earnings before interest, taxes, depreciation, and amortization is guided to be between C$1.5 billion and C$1.55 billion, up from C$1.49 billion.