An Earnings Beat: Energy infrastructure provider Enbridge Inc (ENB - Free Report) reported second-quarter 2019 adjusted earnings per share of 51 cents, higher than the Zacks Consensus Estimate of 42 cents.
Estimate Revision Trend: Investors should note that the Zacks Consensus Estimate for the quarter has been revised downwards in the last seven days.
Revenue Increases: Enbridge reported revenues of C$13.3 billion, higher than the year-earlier sales of C$10.7 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 not missed estimates in any of the last four quarters.
Key Stats: Liquids Pipelines: Operating income at this segment was C$1,992 million, up from C$1,322 million a year ago.
Gas Transmission and Midstream: The segment reported earnings of C$941 million, down from C$1,014 million in second-quarter 2018.
Gas Distribution: This business unit reported profit of C$390 million, up from C$370 million in the June quarter of 2018.
Check back later for our full write up on this Enbridge earnings report later!
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