| Enbridge Inc. - ENB.t transports and delivers energy through pipeline networks across the continent. |
Enbridge operates the world's longest and most sophisticated crude oil and liquids transportation system, shipping more than 2 million barrels of crude oil and billions of cubic feet of natural gas daily.
Enbridge Reports Second Quarter Adjusted Earnings of $505 Million or $0.60 Per Common Share and Available Cash Flow From Operations of $808 Million or $0.96 Per Common Share
•Second quarter earnings were $577 million and six months earnings were $194 million, both including the impact of a number of unusual, non-recurring or non-operating factors
•Second quarter and six months adjusted earnings were $505 million and $973 million, respectively, or $0.60 and $1.15 per common share, respectively
•Second quarter and six months available cash flow from operations were $808 million and $1,610 million, respectively, or $0.96 and $1.91 per common share, respectively
•Enbridge announced 2015 available cash flow from operations guidance of $3.30 to $4.00 per common share
•Enbridge reached agreement with Enbridge Income Fund to transfer its Canadian liquids pipelines business and Canadian renewable energy assets for $30.4 billion plus incentive distribution and temporary performance distribution rights
•Since the end of 2014, Enbridge has completed approximately $3 billion of projects and is on track to complete another $5 billion by the end of 2015
•A non-cash goodwill impairment charge of $440 million ($167 million after-tax attributable to Enbridge) related to Enbridge Energy Partners, L.P.'s natural gas and natural gas liquids businesses was recorded in the second quarter
Enbridge Inc. (Enbridge or the Company) (TSX:ENB)(NYSE:ENB) announced second quarter adjusted earnings of $505 million or $0.60 per common share. Available cash flow from operations (ACFFO) increased to $808 million, or $0.96 per common share, from $516 million, or $0.63 per common share for the second quarter of 2014.
"At the halfway point in the year, we're pleased to report solid second quarter and six-month results," said Al Monaco, President and Chief Executive Officer. "Enbridge's strong adjusted earnings and cash flow growth reflect the strength of our core assets and the ongoing successful execution of our growth capital program. We remain solidly on track to be within our full year adjusted earnings guidance range of $2.05 to $2.35 per share."