Enbridge Inc. says a number of unusual factors boosted its second-quarter profit to $1.74 billion, while operations also performed well amid strong demand for transporting crude oil through its pipeline systems.
Net income attributable to common shares of the Calgary-based company was 86 cents per share.
That was up from $1.07 billion or 63 cents per share in last year’s second-quarter, which also included unusual items.
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Enbridge’s adjusted earnings and revenue were also up, beating analysts’ expectations.
Adjusted earnings rose to $1.35 billion or 67 cents per share, from $1.09 billion or 65 cents per share, while revenue was $13.26 billion, up from $10.74 billion.
Analysts had estimated $11.06 billion of revenue and 59 cents per share of adjusted income, according to financial markets data firm Refini