TransCanada Q3 Profit Declines, But Results Beat Estimates - Quick Facts

(RTTNews) - Canada-based energy infrastructure company TransCanada Corp. (TRP.TO, TRP) reported a decline in profit for the third quarter from last year, reflecting a restructuring charge. However, adjusted earnings and revenue for the quarter beat analysts' estimates.

The latest quarter's results included an after-tax restructuring charge of $6 million related to changes to the company's organizational structure, while both periods included unrealized gains and losses from changes in risk management activities.

TransCanada's board of directors also declared a quarterly dividend of C$0.52 per common share for the quarter ending December 31, 2015. The dividend is payable on January 29, 2016 to shareholders of record at the close of December 31, 2015.

Third-quarter net income attributable to common shares was C$402 million or C$0.57 per share, down from C$457 million or C$0.64 per share for the same period in 2014.

Comparable earnings for the quarter were C$440 million or C$0.62 per share compared to C$450 million or C$0.63 per share for the same period last year.

On average, eleven analysts polled by Thomson Reuters expected the company to report profit per share of C$0.60 for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter grew to C$2.94 billion from C$2.45 billion a year ago. Analysts expected revenue of C$2.67 billion for the quarter.