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BRIEF-Enbridge Inc Reports Q1 Earnings Per Share C$0.94

Published 2019-05-10, 07:17 a/m
© Reuters.  BRIEF-Enbridge Inc Reports Q1 Earnings Per Share C$0.94
ENB
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May 10 (Reuters) - Enbridge Inc ENB.TO :

* . REPORTS STRONG FIRST QUARTER 2019 RESULTS

* Q1 ADJUSTED EARNINGS PER SHARE C$0.81

* Q1 EARNINGS PER SHARE ESTIMATE C$0.72 -- REFINITIV IBES DATA

* Q1 GAAP EARNINGS PER SHARE C$0.94

* DISTRIBUTABLE CASH FLOW WAS $2,758 MILLION FOR Q1 OF 2019, COMPARED TO $2,312 MILLION FOR Q1 OF 2018

* REAFFIRMED FINANCIAL GUIDANCE RANGE FOR 2019 DISTRIBUTABLE CASH FLOW PER SHARE

* ANNOUNCING OPEN SEASON SUPPORTING A $0.2 BILLION EXPANSION OF DAWN-PARKWAY GAS TRANSMISSION SYSTEM

* WILL NO LONGER REQUIRE EXTERNAL EQUITY TO SUPPORT ITS GROWTH PROGRAM GOING FORWARD

* EFFECTIVE JUNE 1, 2019. COLIN GRUENDING IS APPOINTED EXECUTIVE VICE PRESIDENT & CHIEF FINANCIAL OFFICER

* JOHN WHELEN IS APPOINTED EXECUTIVE VICE PRESIDENT & CHIEF DEVELOPMENT OFFICER

* VERN YU IS APPOINTED PRESIDENT & CHIEF OPERATING OFFICER, LIQUIDS PIPELINES

* COLIN GRUENDING MOST RECENTLY HELD POSITION OF SENIOR VICE PRESIDENT, CORPORATE DEVELOPMENT & INVESTMENT REVIEW

* ON LINE 3 REPLACEMENT PROJECT, EXPECT CONSTRUCTION TO COMPLETE ON CANADIAN SEGMENT OF LINE BY END OF MAY

* ON LINE 3 REPLACEMENT PROJECT, EXPECT TO BRING FULL PROJECT INTO SERVICE WITHIN SECOND HALF OF 2020

* CONSTRUCTION COSTS FOR THE LINE 3 REPLACEMENT PROJECT ARE TRACKING BELOW BUDGET IN CANADA AND ABOVE BUDGET IN THE U.S.

* ON LINE 3, PROJECT TRACKING ABOVE BUDGET IN THE U.S. DUE TO PERMITTING DELAYS IN MINNESOTA

* ON LINE 3, THERE IS A RISK THAT THE PROJECT WILL EXCEED THE COMPANY'S TOTAL COST ESTIMATE OF $9 BILLION

* QTRLY LIQUIDS PIPELINES EBITDA $2,072 MILLION VERSUS $1,156 MILLION

* ALL FINANCIAL FIGURES EXPRESSED IN C$

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