TORONTO — Hydro One Ltd. says favourable weather and lower taxes helped boost its fourth-quarter results as it reported a profit of $162 million.
The Ontario power utility says the profit amounted to 27 cents per diluted share for the quarter ended Dec. 31.
That compared with a profit of $155 million or 26 cents per diluted share a year ago.
Revenue for the quarter totalled $1.56 billion, up from $1.44 billion.
On an adjusted basis, Hydro One says it earned 29 cents per diluted share, up form 28 cents per diluted share a year ago.
Analysts on average had expected a profit of 29 cents per share, according to Thomson Reuters Eikon.
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