Kinder Morgan Canada Limited reported un-audited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported revenues of CAD 183.6 million compared to CAD 174.2 million a year ago. Operating income was CAD 63.5 million compared to CAD 56.4 million a year ago. Income before income taxes was CAD 68.2 million compared to CAD 27.8 million a year ago. Net income attributable to restricted voting stockholders was CAD 12.0 million or CAD 0.11 per basic and diluted share compared to CAD 0.00 million or CAD 0.00 per basic and diluted share a year ago. Adjusted EBITDA was CAD 108.1 million compared to CAD 94.0 million a year ago.

For the year, the company reported revenues of CAD 683.8 million compared to CAD 676.1 million a year ago. Operating income was CAD 215.9 million compared to CAD 237.4 million a year ago. Income before income taxes was CAD 224.9 million compared to CAD 258.1 million a year ago. Net income attributable to restricted voting stockholders was CAD 27.9 million or CAD 0.33 per basic and diluted share compared to CAD 0.00 million or CAD 0.00 per basic and diluted share a year ago. Adjusted EBITDA was CAD 388.3 million compared to CAD 395.5 million a year ago.

The company provided earnings guidance for the year 2018. For the year, the company expects Adjusted EBITDA of CAD 474 million. The company also budgeted to invest approximately CAD 1.9 billion in expansion projects and other discretionary spending, of which approximately CAD 1.8 billion is associated with TMEP and the balance with Base Line Terminal.