Enbridge reports Q4 profit above analyst estimate

CALGARY -- Enbridge Inc. posted a $378 million profit in the fourth quarter, and ended 2015 with only a small 12-month loss related to the transfer of assets to an affiliated company.

See Full Article

The Calgary-based pipeline and power company (TSX:ENB) says its adjusted earnings were higher than last year, despite the dramatic downturn in the energy sector.

Its adjusted earnings for the quarter rose to $494 million or 58 cents per share after excluding certain items, up $85 million or nearly 21 per cent from the fourth quarter of 2014.

Analysts had estimated 52 cents per share of adjusted earnings, according to Thomon Reuters data.

For the full year, Enbridge had a $37 million net loss and $1.87 billion of adjusted earnings.

The net loss included a previously announced writedown of goodwill assets in the second quarter as well as taxes incurred as a result of transferring some of Enbridge's pipeline and power-generation assets to an affiliated business.



Advertisements

Latest Economic News

  • Asian shares meander as central banks keep monetary policy steady

    Economic CTV News
    TOKYO - Asian shares were mixed Friday in muted trading after the European Central Bank announced no changes to its stimulus policies. KEEPING SCORE: Japan's benchmark Nikkei 225 slipped 0.2 per cent to 20,109.57 while Australia's S&P/ASX 200 lost 0.2 per cent to 5,750.70. Source
  • First Nation opposes proposed powerline project in New Hampshire

    Economic CTV News
    CONCORD, N.H. -- Supporters of a controversial project that would bring Canadian hydro power to markets in southern New England like to talk about how this would use much cleaner energy than the coal-fired power plants that once dominated the region. Source
  • NEB to reconsider B.C. natural gas pipeline jurisdiction: judge rules

    Economic CTV News
    VANCOUVER -- A Federal Court of Appeal judge has ruled the National Energy Board must reconsider whether a proposed TransCanada Corp. (TSX:TRP) natural gas pipeline in B.C. falls under provincial or federal jurisdiction. "The board did not ask itself whether an arguable case for federal jurisdiction had been made out," wrote judge Donald J. Source
  • U.S. says ban on laptops in airplane cabins has been lifted

    Economic CTV News
    DALLAS -- The ban on laptops in the cabins of planes flying from the Middle East to the U.S. is over, as federal officials say that large airports in the region have taken other steps to increase security. Source
  • McDonald's adds Big Mac onesie, sweats to items it delivers

    Economic CTV News
    OAK BROOK, Ill. -- With McDonald's now offering a delivery service, the fast food giant is looking to make customers comfortable eating at home with a new clothing line that includes an adult-size Big Mac onesie. Source
  • Observers temper expectations for Sears liquidation deals

    Economic CTV News
    TORONTO -- Dozens of Sears stores slated for closure begin liquidation sales Friday, but bargain hunters would be wise to temper their expectations, say industry experts. Eager to avoid bankruptcy, the one-time retail giant is counting on hordes of shoppers to scoop up discounted merchandise, fixtures and equipment as soon as possible. Source
  • Price shock: Fraser report shows Ontario hydro prices surging at twice national average

    Economic CTV News
    Ontario energy prices have skyrocketed significantly higher and faster than the rest of the country over the last nine years, with Torontonians paying twice the national average, according to a report from the right-leaning Fraser Institute. Source
  • Exxon Mobil fined $2M US for Tillerson-era breach of Russia sanctions

    Economic CBC News
    The Treasury Department hit Exxon Mobil Corp. with a $2 million fine Thursday for violating Russia sanctions while Secretary of State Rex Tillerson was the oil company's CEO. Treasury said in a statement that Exxon under Tillerson's leadership had shown "reckless disregard" for sanctions that the Obama administration imposed on Russian entities in 2014 over Russia's annexation of Crimea. Source
  • Rogers Q2 net income rises 35%, beats analyst estimate

    Economic CBC News
    Rogers Communications reported a 35 per cent increase in second-quarter net income on Thursday, beating analyst estimates with an especially strong performance from its key wireless division. It's the first financial report issued by the Toronto-based telecommunications and media company on Joe Natale's watch since he became its CEO in April. Source
  • Supreme Court won't hear appeal from former Nortel employee over benefits

    Economic CTV News
    OTTAWA -- The Supreme Court won't hear an appeal from a former Nortel employee who claimed her charter rights were violated over the issue of disability payments. The employee had argued that the 2015 agreement reached on how disability benefits would be paid out in the wake of Nortel's bankruptcy was unfair and unreasonable. Source