May 7 (Reuters) - Enbridge Inc ENB.TO :
* ENBRIDGE REPORTS STRONG FIRST QUARTER 2020 RESULTS; RE-AFFIRMS OUTLOOK
* Q1 ADJUSTED EARNINGS PER SHARE C$0.83
* Q1 EARNINGS PER SHARE ESTIMATE C$0.74 -- REFINITIV IBES DATA
* Q1 LOSS PER SHARE C$0.71
* QTRLY DISTRIBUTABLE CASH FLOW WAS $2,706 MILLION, COMPARED WITH $2,758 MILLION
* REAFFIRMED FINANCIAL GUIDANCE RANGE FOR 2020 DISTRIBUTABLE CASH FLOW PER SHARE OF $4.50 TO $4.80/SHARE
* ENBRIDGE-BELIEVE VOLUMES WILL RECOVER IN H2 AS COVID-19 RELATED RESTRICTIONS ARE SLOWLY LIFTED, MOBILITY GRADUALLY RETURNS TO NORTH AMERICA IN Q3 & Q4
* WE PLAN TO REDUCE 2020 COSTS BY APPROXIMATELY $300 MILLION
* DEFERRING ABOUT $1 BILLION OF 2020 SECURED GROWTH CAPITAL SPENDING TO REFLECT REFINED EXECUTION SCHEDULES IN LIGHT OF COVID-19
* DON'T EXPECT TO BE ENTIRELY IMMUNE TO COVID-19 IMPACTS IN NEAR TERM
* "THE GLOBAL ECONOMY HAS SEVERELY CONTRACTED AND WE'RE EXPERIENCING ENERGY DEMAND DISRUPTION ON A SCALE THAT WE HAVEN'T SEEN BEFORE"
* ENBRIDGE-AGREEMENT TO SELL 49% OF INTEREST IN 3 OFFSHORE WIND PROJECTS UNDER DEVELOPMENT IN FRANCE TO CPP INVESTMENTS FOR PROCEEDS EXCEEDING $100 MILLION
* ENBRIDGE - NON-CASH IMPAIRMENT OF CO'S INVESTMENT IN DCP MIDSTREAM OF $1,736 MILLION, NON-CASH UNREALIZED DERIVATIVE FAIR VALUE LOSSES OF $1,956 MILLION IN Q1
* SOLD $0.4 BILLION OF ASSETS IN Q1