Edition:
India

TC Pipelines Lp - QTRLY Adjusted Earnings Per Common Unit $1.06


Thursday, 21 Feb 2019 

Tc Pipelines Lp ::TC PIPELINES, LP ANNOUNCES 2018 FOURTH QUARTER AND YEAR END FINANCIAL RESULTS.QTRLY ADJUSTED EARNINGS PER COMMON UNIT $1.06.Q4 EARNINGS PER SHARE VIEW $0.92 -- REFINITIV IBES DATA.QTRLY LOSS PER COMMON UNIT – $5.80.QTRLY TRANSMISSION REVENUES, NET $220 MILLION VERSUS $109 MILLION.GIVEN CONTINUED UNCERTAINTY REGARDING FUTURE CASH FLOWS ON BISON, TOOK AN IMPAIRMENT CHARGE TO EARNINGS DURING Q4 ON PIPELINE.TC PIPELINES - INCURRED NET LOSS OF $413 MILLION IN QUARTER DUE TO AFOREMENTIONED NON-CASH IMPAIRMENT CHARGES PARTIALLY OFFSET BY BISON'S CONTRACT PROCEEDS.PARTNERSHIP DOES NOT ANTICIPATE FURTHER DROPDOWN TRANSACTIONS FROM TRANSCANADA UNDER CURRENT MARKET CONDITIONS.CONTINUE TO EVALUATE REDEPLOYMENT ALTERNATIVES FOR BISON PIPELINE FOLLOWING EXPIRATION OF REMAINING LONG-TERM CONTRACTS IN JAN 2021.TC PIPELINES - DURING Q4 , TWO OF BISON'S CUSTOMERS ELECTED TO PAY OUT REMAINDER OF FUTURE CONTRACTED OBLIGATIONS, TERMINATE TRANSPORTATION AGREEMENTS.RECORDED NON-CASH IMPAIRMENT CHARGE OF $537 MILLION WAS IN Q4 2018.