TransCanada's profit falls after plant outages

Tue Oct 30, 2012 8:47am EDT
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Oct 30 (Reuters) - TransCanada Corp, Canada's largest pipeline company, said third-quarter profit fell 4 percent due to power plant outages and lower contributions from natural gas pipelines.

Net income for the company, which wants to build the controversial Keystone XL pipeline to carry oil sands crude to U.S. Gulf coast refineries, fell to C$369 million, or 52 Canadian cents per share, from C$384 million, or 55 Canadian cents per share, a year earlier.

Comparable earnings, which exclude most one-time items, fell 16 percent to C$349 million, or 50 Canadian cents per share, from C$417 million, or 59 Canadian cents, a year earlier.

Revenue fell 4 percent to C$2.13 billion.