Pembina Pipeline Corp Announces Q1 Results; Shy of Year Highs


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On April 2, 2012 Pembina Pipeline Corporation (PPL.TO) completed its acquisition of Provident Energy Ltd. The amounts disclosed for the three month period ending March 31 reflect results of legacy Pembina excluding Provident.

Pembina, which is trading shy of a year high $33.55, said it had made a "strong" start to 2013, with $1.3 billion of recently secured projects to drive continued growth.

The company's earnings were $90.5 million ($0.30 per share) for the first quarter of 2013 compared to $32.6 million ($0.19 per share) a year earlier.

Cash flow from operating activities was $229 million ($0.77 per share) for the first quarter of 2013 compared to $65.3 million ($0.39 per share) for the same period in 2012. Adjusted cash flow from operating activities was $207.4 million ($0.70 per share) for the first quarter of 2013 compared to $98.8 million ($0.59 per share) for the same period of 2012.

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This article appears in: Investing , Commodities


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