Enbridge's media and investor relations teams will be available after the call for any additional questions. "Over the last three years we have been focused on building an even more resilient business, which put us in a strong position coming into 2020, pre-COVID. Enbridge has paid dividends for over 65 years to its shareholders. The Commission has scheduled a public hearing date for August 24, 2020. Learn everything you need to know about successful options trading with this three-part video course. Instead of barely squeezing a paltry $150 out of the market… you could have had the chance to make $29,100! Actual Mainline throughput for the quarter was 2.44 mbpd, which reflects a slightly faster pace of recovery in demand for refined products and higher refinery utilizations, particularly in the U.S. Midwest. Management uses adjusted EBITDA to set targets and to assess the performance of the Company and its Business Units. Adjusted earnings decreased $216 million and adjusted earnings per share decreased $0.11 compared with the first quarter in 2019. Enbridge will be holding an earnings conference call on Friday, November 6th. Over the balance of 2020, the Company anticipates a continued but gradual recovery in demand, consistent with our throughput guidance, as travel and border restrictions are lifted and mobility returns to North America. Higher interest expense due to a combination of additional new debt incurred to fund capital expenditures as well as a reduction in capitalized interest associated with the Canadian portion of Line 3 placed into service in. The reported $0.56 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.56. Enbridge last posted its quarterly earnings results on July 29th, 2020. Enbridge Earnings Estimates and Actuals by Quarter Interested parties can register for or listen to the call using this link. At this time, Enbridge cannot determine when all necessary permits to commence construction will be issued and as such has not provided an update to the in-service date for Line 3. In Liquids Pipelines, Mainline throughput was about 400 thousand barrels per day lower than our first quarter results however, throughput has been improving steadily and in-line with our expectations. Because of those challenges, a reconciliation of forward-looking non-GAAP financial measures is not available without unreasonable effort. The chart below shows up to four years of a company's earnings history. The Company has exited the second quarter in a strong financial position with over $14 billion of liquidity and having completed its 2020 funding plan. Analysts, members of the media and other interested parties can access the call toll free at (877) 930-8043 or within and outside North America at (253) 336-7522 using the access code of 5290259#. This 2020 filing represents the second year of a five-year incentive rate structure. Enbridge (ENB) reports earnings on 11/6/2020. Our core businesses include Liquids Pipelines, which transports approximately 25 percent of the crude oil produced in North America; Gas Transmission and Midstream, which transports approximately 20 percent of the natural gas consumed in the U.S.; Gas Distribution and Storage, which serves approximately 3.8 million retail customers in Ontario and Quebec; and Renewable Power Generation, which generates approximately 1,750 MW of net renewable power in North America and Europe. MarketBeat does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security. Could This Be the Biggest US Gold Discovery in Years? "Why make only 3% when you could make 582% on your money… without putting in any extra work? In addition, subsequent to the second quarter, Enbridge raised an additional US$1.0 billion of 60-year hybrid subordinated notes in the United States debt capital markets. Our Mainline contract application review is also in full swing; the CER issued a hearing order outlining the key steps in the process and we're providing evidence that demonstrates the value that Mainline contracting will deliver to customers and to ensure the value of western Canadian resources are maximized. Realized foreign exchange hedge settlements. Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools: You have already added five stocks to your watchlist. This translates into $3.24 dividend per share on an annualized basis for 2020. Also, as previously noted, U.S. dollar denominated earnings within the segment results are translated at average foreign exchange rates during the quarter. This project will make a safe pipeline even safer, demonstrating our ongoing commitment to protect Michigan and the Great Lakes' natural resource. Heating degree days is a measure of coldness that is indicative of volumetric requirements for natural gas utilized for heating purposes in EGI's distribution franchise areas. Most notably, Gas Transmission along with Gas Distribution and Storage both saw high utilization and favorable decisions on rates. These projects are expected to come into service between 2021 and 2023. "Along the way John has played a key role in helping build Enbridge's financial foundation and laying the groundwork for our Company's growth and success", said President and CEO Al Monaco. Gulf Coast and Mid-Continent System was slightly down due to lower period-over-period throughput on the Seaway Crude Pipeline driven by the impact of COVID-19 on the Gulf Coast demand and lower Flanagan South Pipeline throughput. Fundamental company data provided by Morningstar and Zacks Investment Research. Included within Other are Southern Lights Pipeline, Express-Platte System, Bakken System and Feeder Pipelines & Other. The following table summarizes the Company's GAAP reported results for segment EBITDA, earnings attributable to common shareholders, and cash provided by operating activities for the second quarter of 2020. MarketBeat does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security. As COVID unfolded early in the year, we enacted plans to further bolster our operational and financial strength to protect against a prolonged downturn, and to mitigate the impact of lower throughput on our liquids Mainline system. The Earnings Whisper Score gives the statistical odds for the stock ahead of earnings. Do Not Sell My Information. Best of all, investors can still get in well below US $0.50 per share. The chart below shows up to four years of a company's earnings history. MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. "All of our business units performed well and contributed to the strong second quarter results. The evidence further supports our view that the proposed tolls meet the regulators fair return standards and that the contract offering will serve the public interest. Mainline System contributions was negatively impacted by reduced utilization rates, with ex-. Instead of buying stocks and praying they go up... my ""Money Multiplier"" strategy could've helped you put 194x MORE money into your account… over the same time! The individual projects that make up the secured program are supported by long-term take-or-pay contracts, cost-of-service frameworks or similar low risk commercial arrangements and are diversified across a wide range of business platforms and regulatory jurisdictions. View our full suite of financial calendars and market data tables, all for free. While there will be headwinds in the second half of 2020, which will temper favourable first half results, we expect to achieve our full year guidance range of $4.50 to $4.80 DCF per share. These include the pace and magnitude of recovery in Mainline throughput, a catch up in enterprise-wide maintenance spending consistent with 2020 guidance, lower revenues on the Texas Eastern system due to temporary operating capacity restrictions, and a lower contribution from Energy Services. From 2014 to 2019, Mr. Whelen held the role of Chief Financial Officer, where he oversaw the financial design and execution of several very significant funding and investment transactions, including Enbridge's $37 Billion acquisition of Spectra. Due to the interdependencies and correlation of these macroeconomic factors, the impact of any one assumption on a forward-looking statement cannot be determined with certainty, particularly with respect to expected EBITDA, expected adjusted EBITDA, earnings/(loss), expected adjusted earnings/(loss), expected DCF and associated per share amounts, or estimated future dividends. Other decreased due to lower throughput on our Bakken Pipeline System driven by the impact of lower prices and COVID-19 on supply and demand for oil and products. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. The decrease was primarily driven by a reduction in capitalized interest and higher depreciation from new assets placed into service throughout 2019, primarily on the Canadian Line 3 replacement program, where the Company is currently earning an interim surcharge until the U.S. portion of Line 3 is completed. This critical milestone substantially concludes the regulatory process and allows for construction of the pipeline, which is expected to take 6 to 9 months, following the issuance of required State and Federal permits. Schedules reconciling EBITDA, adjusted EBITDA, adjusted EBITDA by segment, adjusted earnings, adjusted earnings per share and DCF to their closest GAAP equivalent are provided in the Appendices to this news release. Identify stocks that meet your criteria using seven unique stock screeners. The impact of any one risk, uncertainty or factor on a particular forward-looking statement is not determinable with certainty as these are interdependent and Enbridge's future course of action depends on management's assessment of all information available at the relevant time. The IJT benchmark toll and its components are set in U.S. dollars and the majority of the Company's foreign exchange risk on the Canadian portion of the Mainline is hedged. On June 18, 2020, during seasonal maintenance work on Line 5, Enbridge discovered that a screw anchor support had shifted from its original position on the east segment of the dual Straits crossing pipelines. Based on its solid performance in the first half and the outlook for the second half, the Company still expects to generate DCF within our original guidance range of $4.50 to $4.80 per share. GAAP SEGMENT EBITDA AND CASH FLOW FROM OPERATIONS, (unaudited, millions of Canadian dollars), Earnings attributable to common shareholders. But then Doug agreed to fly 5,700 miles — from his ranch in Argentina to Aspen, Colorado — to explain everything in this exclusive interview. A webcast replay and podcast will be available approximately two hours after the conclusion of the event and a transcript will be posted to the website within 24 hours. Changes in operating assets and liabilities, net of recoveries. Over the last 28 years, Mr. Whelen has played a pivotal role in Enbridge's growth and evolution, holding several senior leadership roles in Finance and Corporate Development.
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