Enbridge first-quarter net income falls on derivative losses and weaker operations
Updated
Updated · MarketWatch · May 8
Enbridge first-quarter net income falls on derivative losses and weaker operations
1 articles · Updated · MarketWatch · May 8
Profit dropped to C$1.67 billion, or C$0.77 a share, from C$2.26 billion, while adjusted earnings of C$0.98 a share beat FactSet forecasts of C$0.95.
Adjusted EBITDA edged down to C$5.81 billion from C$5.83 billion. Liquids pipelines cash flow fell to C$2.3 billion, while gas transmission and gas distribution and storage both increased.
Chief executive Greg Ebel said recent months brought volatility, sharp commodity-price swings, geopolitical pressures and supply disruptions across the global energy sector.