Capital Power Q4 earnings rise to $77M, revenue, full year earnings also higher

EDMONTON – Capital Power Corp. (TSX:CPX) has reported a big increase in both its fourth-quarter and full-year earnings.

The Edmonton-based utility with operating facilities in both Canada and the United States, says net earnings attributable to shareholders rose to $77 million or 89 cents per diluted share from $15 million or 19 cents in the comparable 2012 period.

Revenue in the three-month period ended Dec. 31 grew to $327 million from $288 million.

For the full year, Capital Power posted net earnings attributable to shareholders of $175 million of $2.08 per share, up from $62 million or 84 cents per share in 2012.

Revenue rose to $1.39 billion in 2013 from 1.296 billion the previous year.