Enbridge's quarterly profit rises on strength in natural gas businesses
ENB•ENB•ENB•ENB•Enbridge reported third-quarter earnings of C$1.29 billion, or 59 Canadian cents per share, compared with C$682 million, or 30 cents per share, a year earlier. Adjusted core profit rose in its gas transmission and gas distribution and storage units.
Enbridge said higher income from its natural gas businesses helped lift third-quarter profit. Adjusted core profit from gas transmission increased to C$1.43 billion from C$1.26 billion a year earlier, while gas distribution and storage profit rose to C$665 million from C$560 million.
For the quarter ended September 30, Enbridge reported earnings of C$1.29 billion, or 59 Canadian cents per share, compared with C$682 million, or 30 Canadian cents per share, a year earlier. The company cited increasing natural gas consumption and investments in power infrastructure needed to support data centers as growth opportunities for pipeline operators.
