TransCanada profit falls on lower earnings from power business

Tue Feb 12, 2013 8:47am EST
 
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Feb 12 (Reuters) - TransCanada Corp, Canada's largest pipeline company, reported a 19 percent fall in fourth-quarter profit due to lower earnings from its power business and reduced contributions from some natural gas pipelines.

Net income attributable to common shares fell to C$306 million, or 43 Canadian cents per share, from C$376 million, or 53 Canadian cents per share, a year earlier.

Comparable earnings, which exclude most unusual items, fell 13 percent to C$318 million, or 45 Canadian cents per share, from C$365 million, or 52 Canadian cents per share, a year earlier.

TransCanada is seeking U.S. approval for the $5.3 billion Keystone XL pipeline to the United States from Alberta. The approval has been pending for four and a half years.