Epcor Earns $ 133 Million in the First Half of 2018

Increased Revenues from Resumption of Operations Edmonton's drainage company helped Epcor Utilities' profits in the first half of 2018, the city-owned company announced Friday in its latest quarterly report.

The company reported net earnings of $ 133 million in the six months ended June 30, an increase of $ 39 million. "Epcor continued its strong performance in the middle of the year, achieving solid financial results in the second quarter and receiving external recognition for the excellence of its operations, development projects and ongoing commitment to the company. Second quarter earnings were $ 65 million, a slight decline by the highest results to date in 2018 were largely attributable to higher adjusted earnings before interest, taxes, depreciation and amortization, according to the report.

$ 342 million during the first six months of 2018, a leap of $ 88 million over the same period the previous year.

The improvement was mainly due to the contribution of drainage operations that were transferred to the company in September 2017; The report said

Higher revenues from water services, and customer rates and sales volumes in the company's US operations also contributed, added the company. in finance and depreciation.