Husky Energy 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.
- IBC estimates $230M in insured damage claimed from Edmonton storms
- Alberta First Nation sues Ottawa over $5 treaty annuity, argues amount stuck in 1899
- Jobs hang in the balance as Ekati diamond mine in N.W.T. closing early
- WestJet flight attendants hold information pickets as strike vote takes place
Get weekly money news
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.
Comments
Want to discuss? Please read our Commenting Policy first.