Canadian Utilities Income Statement

Financials in millions CAD. Fiscal year is January - December.

Millions CAD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	3,700	3,742	3,796	4,048	3,515	3,233
Revenue Growth (YoY)	-0.94%	-1.42%	-6.22%	15.16%	8.72%	-17.21%
Fuel & Purchased Power	192	279	385	482	412	297
Operations & Maintenance	243	251	255	233	203	196
Selling, General & Admin	6	6	2	2	6	4
Depreciation & Amortization	727	711	725	642	651	610
Other Operating Expenses	1,386	1,538	1,394	1,391	1,361	1,114
Total Operating Expenses	2,554	2,785	2,761	2,750	2,633	2,221
Operating Income	1,146	957	1,035	1,298	882	1,012
Interest Expense	-501	-508	-460	-407	-413	-401
Interest Income	56	76	54	36	11	15
Net Interest Expense	-445	-432	-406	-371	-402	-386
Income (Loss) on Equity Investments	79	73	66	76	58	31
Other Non-Operating Income (Expenses)	6	26	220	-165	-	-
EBT Excluding Unusual Items	786	624	915	838	538	657
Other Unusual Items	-	-	-	-	-	-71
Pretax Income	786	624	915	838	538	586
Income Tax Expense	164	133	198	199	138	152
Earnings From Continuing Ops.	622	491	717	639	400	434
Minority Interest in Earnings	-11	-11	-10	-7	-7	-7
Net Income	611	480	707	632	393	427
Preferred Dividends & Other Adjustments	77	77	77	75	65	67
Net Income to Common	534	403	630	557	328	360
Net Income Growth	21.96%	-32.11%	11.87%	60.81%	-7.96%	-55.10%
Shares Outstanding (Basic)	272	271	270	269	270	273
Shares Outstanding (Diluted)	272	271	270	270	270	273
Shares Change (YoY)	0.26%	0.41%	0.24%	-0.24%	-1.08%	0.02%
EPS (Basic)	1.97	1.49	2.33	2.07	1.22	1.32
EPS (Diluted)	1.96	1.48	2.33	2.06	1.21	1.32
EPS Growth	25.68%	-36.48%	13.11%	70.25%	-8.32%	-59.26%
Free Cash Flow	472	427	580	916	640	828
Free Cash Flow Per Share	1.74	1.57	2.15	3.40	2.37	3.03
Dividend Per Share	1.826	1.812	1.794	1.777	1.759	1.742
Dividend Growth	1.01%	1.00%	0.99%	1.00%	1.01%	3.00%
Profit Margin	14.43%	10.77%	16.60%	13.76%	9.33%	11.13%
Free Cash Flow Margin	12.76%	11.41%	15.28%	22.63%	18.21%	25.61%
EBITDA	1,873	1,668	1,760	1,940	1,533	1,544
EBITDA Margin	50.62%	44.57%	46.37%	47.93%	43.61%	47.76%
D&A For EBITDA	727	711	725	642	651	532
EBIT	1,146	957	1,035	1,298	882	1,012
EBIT Margin	30.97%	25.57%	27.27%	32.06%	25.09%	31.30%
Effective Tax Rate	20.87%	21.31%	21.64%	23.75%	25.65%	25.94%

Source: S&P Global Market Intelligence. Utility template. Financial Sources.