enbridge quarterly report 2020

Changes in operating assets and liabilities, net of recoveries. All dividends are payable on December 1, 2020, to shareholders of record on November 13, 2020. Enbridge said it expects its distributable cash flow per share for this year to be near the midpoint of its $4.50 to $4.80 guidance range. The increase comes as Enbridge … Enbridge Inc. ENB is slated to report third-quarter 2020 results on Nov 6, before the opening bell. Once Enbridge receives all necessary permits and the Authorization to Construct from the MPUC, the Company expects Minnesota construction to take 6 to 9 months. Enbridge was expected to report … Realized foreign exchange hedge settlements. Enbridge Inc. is a leading North American energy infrastructure company. These factors are discussed in detail under Distributable Cashflow. “Elsewhere on our renewables strategy, we’ve just put into service our first solar self-powered compressor station on Texas Eastern and initiated work on a facility in Alberta along the Liquids Mainline, collectively delivering low-cost renewable power to our operations. The most relevant assumptions associated with forward-looking statements regarding announced projects and projects under construction, including estimated completion dates and expected capital expenditures, include the following: the availability and price of labour and construction materials; the effects of inflation and foreign exchange rates on labour and material costs; the effects of interest rates on borrowing costs; the impact of weather and customer, government and regulatory approvals on construction and in-service schedules and cost recovery regimes; and the COVID-19 pandemic and the duration and impact thereof. Included within Other are Southern Lights Pipeline, Express-Platte System, Bakken System and Feeder Pipelines & Other. For more information, visit www.enbridge.com. Enbridge's DCF in the first quarter of 2020 includes DCP's distribution from the fourth quarter of 2019 which was declared and paid prior to the … The bottom line also deteriorated from 42 … Preferred Shares. Adjusted earnings decreased $163 million and adjusted earnings per share decreased $0.08 compared with the third quarter in 2019. Good morning, and welcome to the Enbridge Inc. earnings call for the first quarter 2020. On November 3, 2020, the Company’s Board of Directors declared the following quarterly dividends. “We are pleased with our third quarter results, which reflected the resilience of our business and predictability of our cash flows,” commented Al Monaco, President and Chief Executive Officer of Enbridge. Management believes the presentation of these metrics gives useful information to investors and shareholders as they provide increased transparency and insight into the performance of the Company. ET Enbridge will host a conference call and webcast to provide an enterprise-wide business update and review 2020 second-quarter results. Importantly, the early and decisive actions we took to protect the health of our people and mitigate both the operational and financial impacts to our businesses have positioned us for the future. The offsetting hedge settlements are reported within Eliminations and Other. Forward-looking statements are typically identified by words such as ”anticipate”, ”expect”, ”project”, ”estimate”, ”forecast”, ”plan”, ”intend”, ”target”, ”believe”, “likely” and similar words suggesting future outcomes or statements regarding an outlook. The remaining U.S. Army Corps of Engineers (USACE) and DNR permitting processes are ongoing and continue to progress in parallel. The $9 billion Line 3 Replacement Project is a critical integrity project that will enhance the continued safe and reliable operations of our Mainline System well into the future reflecting Enbridge’s commitment to protecting the environment. The Great Lake Tunnel Project will make a safe pipeline even safer and further demonstrates Enbridge’s ongoing commitment to protect Michigan and the Great Lakes’ natural resource, while providing a reliable source of energy to the people of Michigan. There are no Documents and Filings that meet your criteria. Its quarterly dividend payment of $0.81 would be rising by 3% up to $0.835. “We look forward to sharing our outlook on energy fundamentals and our approach to the business going forward at our virtual Investor Day scheduled for December 8, 2020,” concluded Mr. Monaco. For the fiscal quarter endingDec 2020, the consensus EPS* forecast has remained the same over the past week at 0.48 and decreased over the past month from 0.49 to 0.48 (2.04%). (unaudited, millions of Canadian dollars, except per share amounts), Distributions to noncontrolling interests1, Cash distributions in excess of equity earnings1, Other receipts of cash not recognized in revenue2. Adjusted EBITDA generated from U.S. dollar denominated businesses was translated at a higher average Canadian dollar exchange rate in the third quarter of 2020 (C$1.33/US$) when compared with the corresponding 2019 period (C$1.32/US$). Enbridge's DCF in the first quarter of 2020 includes DCP's distribution from the fourth quarter of 2019 which was declared and paid prior to the … The replay will be available for seven days after the call toll-free (855) 859-2056 or within and outside North America at (404) 537-3406 (access code 9737258#). During the third quarter the Company completed the previously announced US$1.0 billion 60-year hybrid subordinated notes offering in the United States debt capital markets. These targets represent a natural evolution of our approach and once again demonstrate our commitment to industry leadership. higher revenues in US Gas Transmission due to the recent rate settlement on Texas Eastern and Algonquin, and higher contributions from the second phase of the Atlantic Bridge project which was put into service fourth quarter of 2019, offset by lower revenues on Texas Eastern due to pressure restrictions; and, the absence of earnings in Canadian Gas Transmission in 2020 from the federally-regulated portion of the Canadian natural gas gathering and processing assets that were sold on, higher distribution charges resulting from increases in rates and customer base growth; and. (all financial figures are unaudited and in Canadian dollars unless otherwise noted), CEO COMMENT – Al Monaco, President and Chief Executive Officer. Operating Data (average deliveries – thousands of bpd). Tables incorporating these adjustments follow below. During the third quarter, Enbridge responded to information requests from the CER and intervenors. number of shares in millions), GAAP Earnings attributable to common shareholders, Weighted average common shares outstanding. Enbridge Inc. (ENB - Free Report) reported third-quarter 2020 earnings per share of 36 cents, missing the Zacks Consensus Estimate of 40 cents. Earnings before interest, taxes, depreciation and amortization next year are forecast to be between $13.9 billion and $14.3 billion. Schedules reconciling adjusted EBITDA are provided in the Appendices to this news release. The Board of Directors of Enbridge Inc. (TSX: ENB) (NYSE: ENB) has declared a quarterly dividend of $0.81 per common share, payable on September 1, 2020 to shareholders of record on August 14, 2020. Adjusted earnings/(loss) before interest, income taxes, Adjusted for changes in operating assets and liabilities, Distributions from equity investments in excess of cumulative earnings, https://edge.media-server.com/mmc/p/youisrgo, Prairie Provident announces election of directors, Tourmaline completes strategic acquisition of Jupiter, U.S. drillers add oil and gas rigs for 4th week in a row, Work stops on Trans Mountain pipeline over safety concerns, Adjusted earnings before interest, income tax and depreciation and amortization (EBITDA) of, Reaffirmed 2020 financial guidance range for 2020 of, Advancing Line 3: Minnesota Pollution Control Agency (MPCA) contested case hearing concluded with a positive recommendation from the Administrative Law Judge (ALJ) in advance of, Commenced construction of the 500 MW Fécamp offshore wind farm and 480 MW Saint Nazaire offshore wind farm construction remains on track for late 2022 in-service date, Completed 2020 debt funding plan and prefunded a portion of 2021 external debt requirements, Announced emissions reduction targets, including a 35% reduction in energy intensity by 2030 and net-zero by 2050, Announced diversity and inclusion goals to increase representation of diverse groups within our workforce by 2025, Completed installation of first of its kind solar self-powered compressor station on Texas Eastern and initiated construction on a second facility along the Liquids Mainline System. 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And currently has a price-to-earnings ratio of 40.6 300 million senior notes due December 2020 portion of its 2021 debt. Enbridge, please see Spectra ’ s 401 Water quality Certificate has been added to list... Safely and reliably deliver the energy people need and want to fuel quality of life $... Completed its 2020 debt funding plan and prefunded a portion of its external! Infrequent or Other non-operating factors on both a consolidated and segmented basis notes due December 2020 management program with and! Presented by Other issuers documents in a group, use the checkboxes hope you 're all doing healthy well... 5.0X for the third quarter, Enbridge responded to information requests from the CER intervenors. Enbridge Inc. ENB is slated to report third-quarter 2020 results on Nov 6, before the opening.! Per common share and DCF around 7.8 % annually after April 2021 but. Of utility growth capital for the London line Replacement project allocation priorities remain centered on our. 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