TransAlta Corp. reported a fourth-quarter profit of $66 million compared with a loss of $122 million in the fourth quarter of 2018.
The power producer says the profit amounted to 24 cents per diluted share for the three months ended Dec. 31 compared with a loss of 43 cents per diluted share in the last three months of 2018.
Revenue totalled $609 million, down from $622 million in the same quarter a year earlier.
Funds from operations for its most recent quarter were $189 million or 67 cents per share compared with $217 million or 76 cents per share in the same period a year earlier.
For the full year, TransAlta says it earned $52 million or 18 cents per diluted share on $2.35 billion in revenue in 2019. That compared with a loss of $248 million or 86 cents per diluted share on $2.25 billion in revenue in 2018.
TransAlta owns and operates electrical power generation assets in Canada, the United States and Australia.
This report by The Canadian Press was first published March 4, 2020