Enbridge Beats 1Q Adjusted Profit Estimates

05/10/19 07:34 AM EDT
   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 micah.maidenberg@wsj.com

 

(END) Dow Jones Newswires

May 10, 2019 07:34 ET (11:34 GMT)

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