Enbridge (ENB) Reports Q1 EPS of C$0.57

Enbridge (NYSE: ENB) reported Q1 EPS of Cdn$0.57, versus Cdn$0.76 reported last year.

2017 Guidance

Looking forward, the Company expects to generate consolidated ACFFO per share of between $3.60 and $3.90 for the full 2017 year. This guidance range reflects, among other factors, the positive impact of ongoing strength in Mainline crude oil volumes, the full year contributions of $2 billion of new growth projects coming into service during 2016 and partial year contributions from over $13 billion of new growth projects in 2017, as well as additional utility rate base growth, offset primarily by the seasonal impact of the timing of close of the Spectra Energy acquisition described above, the previously announced shipper-requested deferral of the Wood Buffalo Extension Project in-service date to December 1, 2017 and mild first quarter weather.

"We were very pleased to complete the closing of the Spectra Energy combination in the first quarter and we are now in good position to capitalize on the strategic and financial merits of the transaction," said Al Monaco, President and Chief Executive Officer of Enbridge Inc. "After adjusting for the timing of the deal-close and other factors noted above, our 2017 full year run-rate and future outlook remains in line with our original assumptions and expectations for the post-Spectra Enbridge. Integration of the businesses is going well and we've made very good early progress in capturing the synergies from the transaction."

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

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