Enbridge Beats 1Q Adjusted Profit Estimates
By Micah Maidenberg
Pipeline operator Enbridge Inc. (ENB) reported strong demand for its pipelines in the first quarter, saying the infrastructure ran at near capacity in the period.
The company reported earnings rose to C$1.89 billion, or 94 cents a share, from C$445 million, or 26 cents a share, the year earlier.
After adjustments, Enbridge reported a profit of 81 Canadian cents a share, beating analysts' expectations by eight cents, according to FactSet.
The company said its energy liquids pipeline unit made a significant contribution to earnings before interest, tax, depreciation and amortization for the quarter, rising to C$2.07 billion from C$1.16 billion.
Write to Micah Maidenberg at email@example.com
(END) Dow Jones Newswires
May 10, 2019 07:34 ET (11:34 GMT)Copyright (c) 2019 Dow Jones & Company, Inc.