Husky En­ergy re­ports $93-mil­lion loss, ad­justed earn­ings miss es­ti­mates

The Guardian (Charlottetown) - - BUSINESS -

CAL­GARY - Husky En­ergy (TSX:HSE) is re­port­ing a $93-mil­lion loss for its sec­ond quar­ter and just $10 mil­lion of ad­justed earn­ings, well be­low an­a­lyst es­ti­mates.

The three months ended June 30 were also weaker than the first quar­ter, when Husky had $71 mil­lion of ad­justed earn­ings.

An­a­lysts had es­ti­mated Husky’s ad­justed earn­ings would im­prove to $80 mil­lion in the sec­ond quar­ter, ac­cord­ing to Thom­son Reuters data.

In last year’s sec­ond quar­ter, Husky had a net loss of $196 mil­lion and a $91-mil­lion ad­justed loss.

The fi­nan­cial re­port comes about a year af­ter one of Husky’s pipe­lines leaked near Maid­stone, Sask., with about 40 per cent of the spill reach­ing the North Saskatchewan River. Saskatchewan’s Min­istry of Jus­tice said re­cently it was still re­view­ing Husky’s re­sponse to the spill to de­cide whether charges should be laid.

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