Edition:
India

Enbridge Inc Reports Q1 Earnings Per Share C$0.94


Friday, 10 May 2019 

May 10 (Reuters) - Enbridge Inc ::. REPORTS STRONG FIRST QUARTER 2019 RESULTS.Q1 ADJUSTED EARNINGS PER SHARE C$0.81.Q1 EARNINGS PER SHARE ESTIMATE C$0.72 -- REFINITIV IBES DATA.Q1 GAAP EARNINGS PER SHARE C$0.94.DISTRIBUTABLE CASH FLOW WAS $2,758 MILLION FOR Q1 OF 2019, COMPARED TO $2,312 MILLION FOR Q1 OF 2018.REAFFIRMED FINANCIAL GUIDANCE RANGE FOR 2019 DISTRIBUTABLE CASH FLOW PER SHARE.ANNOUNCING OPEN SEASON SUPPORTING A $0.2 BILLION EXPANSION OF DAWN-PARKWAY GAS TRANSMISSION SYSTEM.WILL NO LONGER REQUIRE EXTERNAL EQUITY TO SUPPORT ITS GROWTH PROGRAM GOING FORWARD.EFFECTIVE JUNE 1, 2019. COLIN GRUENDING IS APPOINTED EXECUTIVE VICE PRESIDENT & CHIEF FINANCIAL OFFICER.JOHN WHELEN IS APPOINTED EXECUTIVE VICE PRESIDENT & CHIEF DEVELOPMENT OFFICER.VERN YU IS APPOINTED PRESIDENT & CHIEF OPERATING OFFICER, LIQUIDS PIPELINES.COLIN GRUENDING MOST RECENTLY HELD POSITION OF SENIOR VICE PRESIDENT, CORPORATE DEVELOPMENT & INVESTMENT REVIEW.ON LINE 3 REPLACEMENT PROJECT, EXPECT CONSTRUCTION TO COMPLETE ON CANADIAN SEGMENT OF LINE BY END OF MAY.ON LINE 3 REPLACEMENT PROJECT, EXPECT TO BRING FULL PROJECT INTO SERVICE WITHIN SECOND HALF OF 2020.CONSTRUCTION COSTS FOR THE LINE 3 REPLACEMENT PROJECT ARE TRACKING BELOW BUDGET IN CANADA AND ABOVE BUDGET IN THE U.S..ON LINE 3, PROJECT TRACKING ABOVE BUDGET IN THE U.S. DUE TO PERMITTING DELAYS IN MINNESOTA.ON LINE 3, THERE IS A RISK THAT THE PROJECT WILL EXCEED THE COMPANY'S TOTAL COST ESTIMATE OF $9 BILLION.