An Earnings Beat: Energy infrastructure provider Enbridge Inc (ENB - Free Report) reported earnings per share of 70 cents, higher than the Zacks Consensus Estimate of 52 cents.
Estimate Revision Trend: Investors should note that the Zacks Consensus Estimate for the quarter has been revised upwards in the last seven days.
Revenue Increases: Enbridge reported revenues of C$12.9 billion, marginally higher than the year-earlier sales of C$12.7 billion.
Zacks Rank & Surprise History: Currently, Enbridge carries a Zacks Rank #3 (Hold), which is subject to change following the earnings announcement.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Coming to earnings surprise history, the company has an excellent record: it has beaten estimates in three of the last four quarters.
Key Stats: Liquids Pipelines: Operating income at this segment was C$2,072 million, up from C$1,156 million a year ago.
Gas Transmission and Midstream: The segment reported earnings of C$1,020 million, surged from C$126 million in first-quarter 2018.
Gas Distribution: This business unit reported profit of C$662 million, up from C$636 million in the March quarter of 2018.
Check back later for our full write up on this Enbridge earnings report later!
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