Enbridge Q4 Adj. Profit Declines; Reaffirms 2023 Guidance

(RTTNews) - Enbridge Inc. (ENB.TO, ENB) reported that its fourth quarter adjusted earnings per common share declined to C$0.63 from C$0.68, prior year. Adjusted profit declined to C$1.27 billion from C$1.38 billion. Adjusted EBITDA increased to C$3.91 billion from C$3.69 billion.

On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of C$0.73, for the quarter. Analysts' estimates typically exclude special items.

GAAP net loss to shareholders was C$1.07 billion or C$0.53 per share compared to profit of C$1.84 billion or C$0.91 per share, previous year.

The company reaffirmed 2023 financial guidance, which includes adjusted EBITDA between C$15.9 billion and C$16.5 billion and DCF per share between C$5.25 to C$5.65.

Enbridge increased its 2023 quarterly dividend by 3.2% to C$0.8875 per share, commencing with the dividend payable on March 1, 2023 to shareholders of record on February 15, 2023.

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