Earnings In Line: Enbridge Inc (ENB - Free Report) reported third-quarter 2019 earnings per share of 42 cents, in line with the Zacks Consensus Estimate.
Estimate Picture: Investors should note that the Zacks Consensus Estimate for the quarter has not seen any revisions in the last seven days.
Revenue Increases: Enbridge reported revenues of $8,785 million, higher than the year-earlier sales of $8,681 million.
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 beat estimates in three of the trailing four quarters.
Key Stats: Liquids Pipelines: Operating income at this segment was C$1,646 million, down from C$1,875million a year ago.
Gas Transmission and Midstream: The segment reported earnings of C$772 million, against a loss of C$60 million in third-quarter 2018.
Gas Distribution: This business unit reported profit of C$252 million, down from C$256 million in the September quarter of 2018.
Check back later for our full write up on this Enbridge earnings report later!
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
See their latest picks free >>