Enbridge (ENB) Posts Q4 EPS of C$0.56

Enbridge (NYSE: ENB) reported Q4 EPS of C$0.56, which may note compare to the consensus of $0.45.

"Our fourth quarter results contributed to solid 2016 full-year adjusted EBIT and cash flow growth," said Al Monaco, President and Chief Executive Officer. "We are pleased with mainline system performance which recovered sharply from the impacts of the Northeastern Alberta wildfires in the second quarter. The system delivered an average 2.5 million barrels per day ex-Gretna during the fourth quarter and delivered a record 2.6 million barrels per day in December. Despite the impact of the wildfires and a larger and earlier than planned equity offering during the first quarter, we've again delivered results right in line with the adjusted EBIT and ACFFO guidance we announced heading into the year." Mr. Monaco continued, "We have been successful in achieving our planned cost savings, which also contributed to our strong results and will make us even more competitive going forward.

"We also continued to advance our existing organic growth capital program and very meaningfully progressed our strategy to extend and diversify the Company's growth platforms with the announcement of our transformative combination with Spectra Energy. The combination with Spectra Energy will position Enbridge as the premier energy infrastructure company in North America, significantly enhancing our natural gas footprint and diversifying the Company's organic growth opportunities while maintaining its low risk shareholder value proposition."

For earnings history and earnings-related data on Enbridge (ENB) click here.

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