Valener Inc. Announces Earnings Results for the Third Quarter and Nine Months Ended June 30, 2018; Provides Earnings Guidance for the Fourth Quarter and Full Year of Fiscal 2018
August 09, 2018 at 07:16 am
Share
Valener Inc. announced earnings results for the third quarter and nine months ended June 30, 2018. For the quarter, the company reported net income attributable to common shareholders of $0.5 million compared to $1.8 million a year ago. Adjusted net income attributable to common shareholders was $0.5 million or $0.01 per common share compared to $2.5 million or $0.06 per common share a year ago. Normalized operating cash flows were $12.8 million or $0.33 per common share compared to $14.4 million or $0.37 per common share a year ago. Cash flows related to operating activities was $14.0 million compared to $15.5 million a year ago.
For the nine months, the company reported, net income attributable to common shareholders of $47.6 million compared to $56.3 million a year ago. Adjusted net income attributable to common shareholders was $54.4 million or $1.39 per common share compared to $55.7 million or $1.44 per common share a year ago. Normalized operating cash flows were $38.1 million or $0.98 per common share compared to $37.9 million or $0.98 per common share a year ago. Basic and diluted per unit was $1.39 compared to $1.44 a year ago. Cash flows related to operating activities was $41.5 million compared to $41.2 million a year ago.
The company expects to deploy $20 million of CapEx in the fourth quarter.
For the year, the company expects to deploy $50 million for Standard Solar.
Valener Inc. is a Canada-based energy company. The Company holds interests in Gaz Metro Limited Partnership (Gaz Metro), whose core operations are natural gas distribution in Quebec and Vermont, as well as electricity distribution in Vermont. The Company also owns indirect interests in wind farms through its subsidiaries, Valener Eole Inc. and Valener Eole 4 Inc., which have approximately 154 turbines and an installed capacity of 340 megawatts. In Quebec, Gaz Metro has a network of over 10,000 kilometers of underground pipelines serving over 300 municipalities and 200,000 customers. In Vermont, Gaz Metro produces and transports electricity, and distributes electricity and natural gas to over 310,000 customers. Gaz Metro is involved in the development and operation of energy projects, including natural gas as fuel and liquefied natural gas as a replacement to other emission-producing energies, the production of wind power, and the development of biomethane.
Valener Inc. Announces Earnings Results for the Third Quarter and Nine Months Ended June 30, 2018; Provides Earnings Guidance for the Fourth Quarter and Full Year of Fiscal 2018