Enbridge Slips To Loss In Q1; But Adj. Profit Tops View

(RTTNews) - Enbridge Inc. (ENB, ENB.TO) posted a loss for the first-quarter, hurt by a non-cash impairment of the company's investment in DCP Midstream and non-cash unrealized derivative fair value losses.

GAAP loss was C$1.429 billion or C$0.71 loss per share, compared to GAAP earnings of C$1.891 billion or C$0.94 per share in 2019.

Adjusted earnings were C$1.668 billion or C$0.83 per share for the first quarter of 2020, compared with C$1.640 billion or C$0.81 per share in 2019. Analysts polled by Thomson Reuters expected the company to report earnings of $0.74 per share for the quarter. Analysts' estimates typically exclude special items. The company reaffirmed financial guidance range for 2020 Distributable Cash Flow per Share of C$4.50 to C$4.80/share.