TransCanada Adjusted Profit Falls After Asset Sales

By Allison Prang Features Dow Jones Newswires

TransCanada Corp. reported a decline in third-quarter adjusted earnings, partly because of the pipeline operator's sale of its U.S. Northeast power-generation assets earlier this year.

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The Calgary, Alberta-based company said Thursday adjusted earnings were $614 million Canadian dollars ($482 million), or 70 Canadian cents a share, down from C$622 million, or 78 Canadian cents a share, a year ago.

Net income was C$612 million, compared with a C$135 million loss a year earlier.

Revenue in the quarter ended Sept. 30 was C$3.24 billion, down from C$3.63 billion a year earlier.

In June, TransCanada sold four of its power assets to Helix Generation for $2.03 billion. In April, Great River Hydro bought TransCanada's TC Hydro for $1.07 billion.

Shares were down 0.9% in morning trading.

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Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

November 09, 2017 10:11 ET (15:11 GMT)