Spectra Energy Q2 Profit Falls - Quick Facts

(RTTNews) - Spectra Energy Corp (SE) reported that its net income from controlling interests for the second quarter 2015 fell to $18 million or $0.03 per share, from $146 million, or $0.22 per share in second quarter 2014.

Ongoing net income from controlling interests for the latest-quarter was $156 million, or $0.23 per share. Analysts polled by Thomson Reuters expected the company to report earnings of $0.18 per share. Analysts' estimates typically exclude special items.

Operating revenues for the quarter were $1.192 billion, lower than last year's $1.253 billion. Wall Street expected revenues of $1.33 billion.

Spectra Energy Partners, LP announced that the board of directors of its general partner declared a quarterly cash distribution to unitholders of $0.61375 per unit, an increase of 1.25 cents over the previous level of $0.60125 per unit. This is the 31st consecutive quarter that Spectra Energy Partners has increased its quarterly cash distribution. The cash distribution is payable on August 28, 2015, to unitholders of record at the close of business on August 14, 2015. This quarterly cash distribution equates to $2.455 per unit on an annual basis.