(Calgary) Enbridge reports its most recent quarter generated $1.8 billion in profit as it reached a settlement with shippers for tolls on its mainline pipeline system and moved forward with its project Rio Bravo pipeline.
The Calgary pipeline giant’s second-quarter profit compares to a $450 million profit a year earlier.
Enbridge’s earnings were 91 cents per share for the quarter ended June 30, up from 22 cents per share a year earlier.
On an adjusted basis, Enbridge says it earned 68 cents per share, compared to adjusted earnings of 67 cents per share a year earlier.
The result is analysts’ average estimate for adjusted earnings per share, according to estimates compiled by financial markets data firm Refinitiv.
The company also announces that it has reached a seven-and-a-half-year agreement in principle on its main pipeline, which is subject to regulatory approvals.
Company in this post: (TSX: ENB)
