Spectra Energy Earnings: Everything You Must Know Now

Spectra Energy Corp. (NYSE:SE) delivered a profit and missed Wall Street’s expectations, AND met the revenue expectation.

Spectra Energy Corp. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased 9.09% to $0.30 in the quarter versus EPS of $0.33 in the year-earlier quarter.

Revenue: Rose 9.71% to $1.22 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Spectra Energy Corp. reported adjusted EPS income of $0.30 per share. By that measure, the company missed the mean analyst estimate of $0.32. It met the average revenue estimate of $1.22 billion.

Quoting Management: “Spectra Energy Partners’ portfolio of stable, fee-based assets delivered another quarter of solid financial results. From that foundation, the addition of the Express-Platte Pipeline System allowed us to increase our quarterly distribution for the 23rd consecutive quarter,” said Julie Dill, president and chief executive officer. “Going forward, our unitholders can expect even greater distribution growth as we look forward to having our general partner, Spectra Energy Corp, drop down all their remaining US storage and transmission assets, as well as accelerating the drop down of the liquids business to Spectra Energy Partners, by year-end,” continued Dill.

Key Stats (on next page)…

Revenue decreased 23.22% from $1.59 billion in the previous quarter. EPS decreased 41.18% from $0.51 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.30 and has not changed. For the current year, the average estimate is a profit of $1.52, which is the same with that ninety days ago.

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