diff --git a/core/dbt/config/profile.py b/core/dbt/config/profile.py
index 8fd1334c496..03af128dbde 100644
--- a/core/dbt/config/profile.py
+++ b/core/dbt/config/profile.py
@@ -44,10 +44,6 @@
 {profiles_file}/profiles.yml
 """.format(profiles_file=PROFILES_DIR)
 
-EMPTY_PROFILE_MESSAGE = """
-dbt cannot run because profiles.yml is empty for this dbt project.
-"""
-
 
 def read_profile(profiles_dir: str) -> Dict[str, Any]:
     path = os.path.join(profiles_dir, 'profiles.yml')
@@ -58,7 +54,11 @@ def read_profile(profiles_dir: str) -> Dict[str, Any]:
             contents = load_file_contents(path, strip=False)
             yaml_content = load_yaml_text(contents)
             if not yaml_content:
-                raise DbtProfileError(EMPTY_PROFILE_MESSAGE)
+                raise DbtProfileError(
+                    INVALID_PROFILE_MESSAGE.format(
+                        error_string=f'The profiles.yml file at {path} is empty'
+                    )
+                )
             return yaml_content
         except ValidationException as e:
             msg = INVALID_PROFILE_MESSAGE.format(error_string=e)
@@ -287,7 +287,6 @@ def from_raw_profile_info(
         # user_cfg is not rendered.
         if user_cfg is None:
             user_cfg = raw_profile.get('config')
-
         # TODO: should it be, and the values coerced to bool?
         target_name, profile_data = cls.render_profile(
             raw_profile, profile_name, target_override, renderer
@@ -342,7 +341,15 @@ def from_raw_profiles(
         # First, we've already got our final decision on profile name, and we
         # don't render keys, so we can pluck that out
         raw_profile = raw_profiles[profile_name]
-
+        if not raw_profile:
+            msg = (
+                f'Profile {profile_name} in profiles.yml is empty'
+            )
+            raise DbtProfileError(
+                INVALID_PROFILE_MESSAGE.format(
+                    error_string=msg
+                )
+            )
         user_cfg = raw_profiles.get('config')
 
         return cls.from_raw_profile_info(
@@ -380,7 +387,6 @@ def render_from_args(
         raw_profiles = read_profile(args.profiles_dir)
         profile_name = cls.pick_profile_name(getattr(args, 'profile', None),
                                              project_profile_name)
-
         return cls.from_raw_profiles(
             raw_profiles=raw_profiles,
             profile_name=profile_name,
diff --git a/test/unit/test_config.py b/test/unit/test_config.py
index af5c4b66e02..5a5e73c34a9 100644
--- a/test/unit/test_config.py
+++ b/test/unit/test_config.py
@@ -157,7 +157,8 @@ def setUp(self):
                     }
                 },
                 'target': 'other-postgres',
-            }
+            },
+            'empty_profile_data': {}
         }
         self.args = Args(profiles_dir=self.profiles_dir, cli_vars='{}',
                          version_check=True, project_dir=self.project_dir)
@@ -540,6 +541,17 @@ def test_empty_profile(self):
             self.from_args()
         self.assertIn('profiles.yml is empty', str(exc.exception))
 
+    def test_profile_with_empty_profile_data(self):
+        renderer = empty_renderer()
+        with self.assertRaises(dbt.exceptions.DbtProfileError) as exc:
+            dbt.config.Profile.from_raw_profiles(
+                self.default_profile_data, 'empty_profile_data', renderer
+            )
+        self.assertIn(
+            'Profile empty_profile_data in profiles.yml is empty',
+            str(exc.exception)
+        )
+
 
 class TestProject(BaseConfigTest):
     def setUp(self):