Skip to main content
Open this photo in gallery:

Hydro One reported quarterly results Friday.Darren Calabrese/The Canadian Press

Hydro One Ltd. reported a first-quarter profit of $225-million, up from a profit of $171-million a year ago.

The power utility says the profit amounted to 38 cents per diluted share for the quarter ended March 31 compared with a profit of 29 cents per diluted share a year ago.

Revenue totalled $1.85-billion, up from nearly $1.76-billion in the same quarter last year.

On an adjusted basis, Hydro One says it earned 38 cents per diluted share for the quarter compared with an adjusted profit of 52 cents per diluted share in the first quarter of 2019.

The company says the drop in adjusted earnings per share was driven by a retroactive 2018 rate increase recorded in 2019 following an Ontario Energy Board decision.

Hydro One says to help customers affected by COVID-19 it has created a pandemic relief fund, extended its winter relief program, suspended late fees for all customers, and returned approximately $5-million in security deposits to eligible business customers.

Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening. Sign up today.

Report an editorial error

Report a technical issue

Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 21/11/24 4:00pm EST.

SymbolName% changeLast
H-T
Hydro One Ltd
+0.77%45.54

Follow related authors and topics

Authors and topics you follow will be added to your personal news feed in Following.

Interact with The Globe