OTTAWA (dpa-AFX) - Encana (ECA, ECA.TO) posted a first-quarter net loss of $245 million or $0.20 per share, compared to net income of $151 million in the prior year, due to non-cash unrealized losses on risk management of $427 million, restructuring costs of $113 million and acquisition related costs of $31 million.
Non-GAAP operating earnings for the first quarter were $165 million, or $0.14 per share.
The company reiterated annual proforma capital outlook of $2.7 to $2.9 billion and reaffirms production targets, including approximately 15 percent liquids growth from its core growth assets.
Copyright RTT News/dpa-AFX