ET Enbridge will host a conference call and webcast to provide an enterprise-wide business update and review 2020 second-quarter results. Save time by adding this page to your list of favorites. Enbridge Inc. (ENB.TO) last posted its quarterly earnings data on November 6th, 2020. The IJT benchmark toll and its components are set in U.S. dollars and the majority of the Company’s foreign exchange risk on the Canadian portion of the Mainline is hedged. Financial results for three and nine months ended September 30, 2020, are summarized in the table below: (unaudited, millions of Canadian dollars, except per share amounts; 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. 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 … Operating and administrative recoveries captured in this segment reflect the cost of centrally delivered services (including depreciation of corporate assets) inclusive of amounts recovered from business units for the provision of those services. lower Mainline System throughput, with ex-. lower throughput on the Bakken Pipeline System, included in Other, driven by the impact of lower prices and COVID-19 on supply and demand for oil and products. The reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by $0.05. State and federal agencies continue to advance the necessary environmental permits in parallel. Enbridge reported third-quarter 2020 earnings per share of 36 cents, missing the Zacks Consensus Estimate of 40 cents. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such statements. In addition, the Company announced today $0.2 billion of utility growth capital for the London Line Replacement Project. Adjusted EBITDA in the third quarter of 2020 decreased by $111 million compared with the same period in 2019. depreciation and amortization, APPENDIX C On your next visit, you'll find a shortcut to this page in the main menu. Forward-looking information, or forward-looking statements, have been included in this news release to provide information about Enbridge and its subsidiaries and affiliates, including management’s assessment of Enbridge and its subsidiaries’ future plans and operations. In addition, the Company ended the third quarter with over $14 billion of available liquidity, which is sufficient capacity to meet all of its funding requirements through the end of 2021 without further access to capital markets. On October 16, 2020, Enbridge received a favourable recommendation from the ALJ on all five of the issues considered, which further supports the extensive regulatory record and the critical nature of this integrity project. The Board also declared the following quarterly dividends for Enbridge Inc. The call will be audio webcast live at https://edge.media-server.com/mmc/p/youisrgo. Gas Transmission and Midstream adjusted EBITDA increased $1 million compared to the third quarter of 2019 primarily due to: Number of active customers is the number of natural gas consuming customers at the end of the reported period. This outlook reflects our strong performance over the first nine months of 2020, the $300 million of enabled full year costs savings, as well as certain offsetting headwinds anticipated within the fourth quarter. Our non-GAAP measures described above are not measures that have standardized meaning prescribed by generally accepted accounting principles in the United States of America (U.S. GAAP) and are not U.S. GAAP measures. All dividends are payable on December 1, 2020, to shareholders of record on November 13, 2020. The Company has completed an extensive geotechnical assessment and retained a world-class engineering team to design the tunnel. “While we are encouraged by the economic activity and recovery in energy demand, we are assuming a gradual pace of recovery over the balance of 2020 and into 2021. (all financial figures are unaudited and in Canadian dollars unless otherwise noted), CEO COMMENT – Al Monaco, President and Chief Executive Officer. 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. Enbridge Inc. is a leading North American energy infrastructure company. The quarterly dividend per common share was increased 9.8% to $0.81 from $0.738, effective March 1, 2020. Although Enbridge believes these forward-looking statements are reasonable based on the information available on the date such statements are made and processes used to prepare the information, such statements are not guarantees of future performance and readers are cautioned against placing undue reliance on forward-looking statements. “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. If a replacement agreement is not in place by June 30, 2021, the CTS tolls will continue on an interim basis. Its quarterly dividend payment of $0.81 would be rising by 3% up to $0.835. The offsetting hedge settlements are reported within Eliminations and Other. I hope you're all doing healthy and well. The decrease was primarily driven by lower Adjusted EBITDA as well as a reduction in capitalized interest and higher depreciation from new assets placed into service throughout 2019, primarily on the Canadian Line 3 replacement program. We safely and reliably deliver the energy people need and want to fuel quality of life. Aux Sable Bakken Enbridge Podcast Regulatory, Distributions to noncontrolling interests, Cash distributions in excess of equity earnings, Other receipts of cash not recognized in revenue. Adjusted earnings decreased $163 million and adjusted earnings per share decreased $0.08 compared with the third quarter in 2019. Non-GAAP financial measures. Management uses adjusted EBITDA to set targets and to assess the performance of the Company and its Business Units. NON-GAAP RECONCILIATION – SEGMENTED EBITDA TO ADJUSTED EBITDA, Change in unrealized derivative fair value gain/(loss), Equity earnings adjustment – DCP Midstream, (unaudited; millions of Canadian dollars), Change in unrealized derivative fair value gain, Adjusted earnings/(loss) before interest, income taxes,