Enbridge Inc. on Aug. 3 reported 2017 second-quarter adjusted earnings of C$662 million, or 41 Canadian cents per share, surging from C$456 million, or 50 Canadian cents per share, in the year-ago quarter.
The S&P Capital IQ consensus normalized EPS estimate for the second quarter was 44 Canadian cents.
Second-quarter adjusted EBIT totaled C$1.71 billion, soaring from the prior-year period's C$1.09 billion. Available cash flow from operations also increased to C$1.32 billion, or 81 Canadian cents per share, compared to C$868 million, or 95 Canadian cents per share, in the corresponding period last year.
Enbridge's second quarter represents the first full quarter of operations following the closing of its merger with Spectra Energy Corp, which created a more diverse asset base and business platform that contributed to earnings growth, according to the earnings release. The company attributed the year-over-year increase in EBIT to new natural gas assets acquired from the merger.
"The overall performance of the U.S. gas transmission assets that we acquired in connection with the merger transaction has been solid and as expected," said Al Monaco, president and CEO of Enbridge.