Enbridge Earnings: Here’s Why Shares are Up Now

Enbridge Inc. (NYSE:ENB) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.34%.

Enbridge Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased to $0.42 in the quarter versus EPS of $0.37 in the year-earlier quarter.

Revenue: Rose 26.91% to $7.17 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Enbridge Inc. reported adjusted EPS income of $0.42 per share. By that measure, the company missed the mean analyst estimate of $0.44. It beat the average revenue estimate of $6.22 billion.

Quoting Management: “Enbridge finished 2012 with a solid fourth quarter and full year results that again achieved our guidance for the year,” said Al Monaco, President and Chief Executive Officer. “For the three months ended December 31, 2012 adjusted earnings totaled $327 million, or $0.42 per common share. This brings our full year 2012 adjusted earnings to $1,249 million, or $1.62 per common share, an 11% year-over-year increase. This increase is particularly noteworthy in light of the significant prefunding which we completed in the year for future growth projects.”

Key Stats (on next page)…

Revenue increased 21.94% from $5.88 billion in the previous quarter. EPS increased 23.53% from $0.34 in the previous quarter.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)