08:21 AM EDT, 05/02/2024 (MT Newswires) -- Caribbean Utilities (CUP-U.TO) said overnight Wednesday that its net earnings and revenue in the first quarter increased.

The company reported net income of US$6.2 million, up18% from US$5.2 million in the first quarter of last year. Sales increased 6% to 168.1 million kilowatt-hour (kWh).

"The company continues to focus on our capital investment and infrastructure projects with an emphasis on sustainability," President and CEO Richard Hew said. "We continue to make investments that will allow [Caribbean Utilities] to increase fuel efficiency and reduce our reliance on diesel all while continuing to safely deliver reliable and least cost energy."