Enbridge Q3 Profit Tops Estimates

(RTTNews) - Enbridge Inc. (ENB.TO, ENB) reported third quarter adjusted earnings per share of C$0.67 compared to C$0.59, prior year. On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of C$0.64, for the quarter. Analysts' estimates typically exclude special items.

GAAP earnings attributable to common shareholders increased to C$1.28 billion or C$0.63 per share from C$682 million or C$0.34 per share, previous year.

The company reaffirmed its 2022 financial guidance, which includes adjusted EBITDA between C$15.0 and C$15.6 billion and DCF per share between C$5.20 to C$5.50.

Enbridge also announced the successful completion of an open season for increased transportation capacity on the T-South segment of its B.C. Pipeline, a natural gas pipeline system, which originates near Chetwynd, British Columbia and extends south to the Canada-U.S. border at Huntingdon-Sumas. The company noted that the open season was over-subscribed, and Enbridge has sanctioned and is proceeding with a 300 million cubic feet per day expansion at a capital cost of up to C$3.6 billion.

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