• Sign up for the Daily Digest E-mail
  • Facebook
  • Twitter
  • LinkedIn

BOE Report

Sign up
  • Home
  • Headlines
    • Latest Headlines
    • Featured Companies
    • Columns
    • Discussions
  • Well Activity
    • Well Licences
    • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts
    • CAOEC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
  • Industry Data
    • Canada Oil Market Data
    • Canada NG Market Data
    • USA Market Data
    • Data Downloads
  • Jobs

Enbridge net profit falls as revenues surge in second quarter to $13.22 billion

July 29, 20226:17 AM The Canadian Press0 Comments

CALGARY – Enbridge Inc. says its earnings attributable to common shareholders dropped in its most recent quarter despite higher revenue.

The Calgary-based energy company says it earned $450 million or 22 cents per share in its second quarter, compared with $1.39 billion or 69 cents per share a year earlier.

Adjusted profits were $1.35 billion or 67 cents per share, compared with $1.36 billion or 67 cents per share in the same period of 2021.

Revenue in the three months ended June 30 was $13.22 billion, compared with $10.95 billion in the prior year quarter.

The company reaffirmed its 2022 financial guidance for earnings before interest, taxes, depreciation and amortization of between $15.0 billion and $15.6 billion and distributable cash flow of $5.20 to $5.50 per share.

It says strong operational performance is expected to be offset by challenging market conditions affecting energy services and higher financing costs due to rising interest rates.

Enbridge president and CEO Al Monaco says the company continued to progress on its key priorities during the quarter.

“Operational performance remained strong, translating into good second quarter financial results,” he said in a statement Friday.

This report by The Canadian Press was first published July 29, 2022.

Companies in this story: (TSX:ENB)

Enbridge

Follow the BOE Report
  • Facebook
  • Twitter
  • LinkedIn

Sign up for the BOE Report Daily Digest E-mail

Successfully subscribed

Latest Headlines
  • New oil and gas jobs from BOE Report Jobs
  • Plains Midstream Canada Pursuing Fort Saskatchewan Facility Expansion
  • More U.S. sour crude heads to Germany to replace Russia oil
  • Tidewater Midstream announces closing of unit financing and refinancing plan
  • Column: Appalling new historical precedent – surplus cash flow cannot solve world’s energy problems, by design

Return to Home
Alberta Gas
CAD/GJ
Market Data by TradingView

    Report Error





    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    • Editorial Policy
    Resources
    • App
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contribute
    • Contact
    • Report Error
    Featured In
    • CamTrader
    • Rigger Talk
    Data Partner
    • Foxterra
    BOE Network
    © 2022 Grobes Media Inc.