- Category: Economic
- Published Friday, February 19, 2016
- CTV News
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.
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.