TransCanada Corp. Q4 Profit Beats Estimates - Quick Facts

(RTTNews) - TransCanada Corp. (TRP.TO, TRP) announced a net loss attributable to common shares for fourth quarter 2015 of C$2.5 billion or C$3.47 per share compared to net income of C$458 million or C$0.65 per share for the same period in 2014. Comparable earnings for fourth quarter 2015 were C$453 million or C$0.64 per share. On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of C$0.61 for the quarter. Analysts' estimates typically exclude special items.

Revenues increased to C$2.85 billion from C$2.62 billion, a year ago. Analysts expected revenue of C$2.89 billion, for the quarter.

Russ Girling, TransCanada's CEO, stated: "Excluding specific items, comparable earnings and funds generated from operations reached record levels while we continued to safely and reliably meet the needs of our customers across North America. While we were extremely disappointed by the denial of a Presidential Permit for Keystone XL and the resulting C$2.9 billion after-tax non-cash impairment charge, we are well positioned to continue to grow earnings and cash flow in the years ahead."

TransCanada's Board also declared a quarterly dividend of C$0.565 per common share for the quarter ending March 31, 2016, equivalent to C$2.26 per common share on an annualized basis, an increase of nine percent.