TransCanada Q2 Profit Matches Street - Quick Facts

(RTTNews) - Energy infrastructure company TransCanada Corp.'s (TRP, TRP.TO) second-quarter net income attributable to common shares climbed to C$365 million or C$0.52 per share, from C$272 million or C$0.39 per share, a year back.

The latest results included a C$25 million favourable income tax adjustment due to the enactment of Canadian Federal tax legislation relating to Part VI.I tax, in June 2013 and was excluded from comparable earnings; while the prior-year period included an after-tax charge of C$37 million on the impact of the Sundance A PPA arbitration decision. Of this amount, C$15 million is excluded from 2012 comparable earnings as it related to 2011, the company said.

Comparable earnings for second quarter 2013 were C$357 million or C$0.51 per share. On average, 9 analysts polled by Thomson Reuters expected earnings per share of C$0.51 for the quarter. Analysts' estimates typically exclude one-time items.

Revenue increased to C$2.01 billion in the quarter, from C$1.85 billion in the comparable period last year. Analysts estimated revenues of C$2.11 billion for the quarter.

Further, TransCanada's board declared a quarterly dividend of C$0.46 per share for the quarter ending September 30, 2013, equivalent to C$1.84 per share on an annualized basis.