Element Financial announced it has increased its 2015 outlook for adjusted operating earnings per share from $0.99 to $1.05. Element said its 2015 outlook for pre-tax adjusted earnings per share has been increased from $1.33 to $1.44. The company confirmed it expects to report adjusted earnings per share and pre-tax adjusted earnings per share for the fourth quarter of 2014 of $0.19 and $0.25 respectively.

Element said the adjustment in the company’s 2015 outlook is attributable to the favorable translation effect arising from the expected increase in the value of the U.S. dollar relative to the Canadian dollar throughout 2015. For 2015, Element expects to have approximately 50% of its revenue originated out of the U.S. By the end of 2015, the company said it expects to have 70% of its total earning assets of $12.8 billion in the U.S.

The quarterly distribution of earnings through 2015 is expected to continue to be weighted in favor the second half of the year. Together with the normal seasonal distribution of earnings through the year, the outlook for 2015 quarterly adjusted earnings has been revised as follows: $0.21 in Q1; $0.23 in Q2; $0.28 in Q3; $0.33 in Q4. Timing of the closing of new business opportunities and changes in business mix can result in the variation of these estimates between each quarter.

“We’ve analyzed our 2015 business plan for sensitivity to a number of key economic variables, including sustained lower energy prices and a lower Canadian dollar and have increased our 2015 EPS outlook to reflect this analysis,” said Steven Hudson, Element’s chairman and CEO.