The corporate logo of Enbridge Inc. (TSX:ENB) is shown. THE CANADIAN PRESS/HO
November 07, 2012 - 7:34 AM
CALGARY - Enbridge Inc. (TSX:ENB) improved its third-quarter profit over the same period last year but fell just short of analyst estimates.
The Calgary-based pipeline company's net profit was $189 million or 24 cents per share, compared with a small net loss of $5 million or one cent a share last year.
Its adjusted earnings rose to $269 million or 34 cents per share — up 13 per cent from last year but a penny below analyst estimates.
Enbridge's total revenue was $5.79 billion, down from $6.28 billion a year earlier.
Revenue from commodity sales was $4.65 billion, down from $5.16 billion.
Analysts polled by Thomson Reuters were on average expecting Enbridge to earn 35 cents per share in adjusted earnings and post revenues of $4.8 billion.
News from © The Canadian Press, 2012