Enbridge Has Better 2nd Qtr Earnings

Enbridge logo2

CBJ — Enbridge Inc. has reported better-than-expected second-quarter earnings of $1.07 billion, as it worked to sell a number of non-core assets to help eliminate debt.

The Calgary-based pipeline operator’s profit amounted to 63 cents per share and compared with $919 million, or 56 cents per share in the second quarter of 2017. Both quarters included the impact of a number of unusual items.

Enbridge recently announced agreements to sell $7.5 billion worth of non-core assets — more than double its original $3 billion target.

The company says it is on schedule to achieve its 2018 guidance and expects about $7 billion worth of new projects to be introduced over the course of the latter part of this year.

@CanBizJournal

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