By Adriano Marchese


Canadian natural gas distribution provider Enbridge Inc. on Friday reported a slight rise in profit in the first quarter, and reiterated its guidance for the year.

The Calgary, Alberta-based company's earnings per share were 95 Canadian cents (74 U.S. cents), up slightly from C$0.94 in the comparable quarter a year ago, it said.

Net income was C$1.93 billion, compared with C$1.9 billion a year ago.

Adjusted earnings were C$0.84 a share, up from C$0.81. According to FactSet, analysts were expecting C$0.85 a share.

Adjusted earnings before interest, taxes, depreciation and amortization rose to C$4.1 billion from C$3.1 billion.

Distributable cash flow rose to C$3.1 billion, the equivalent of C$1.52 a share, from C$2.8 billion, or C$1.37 a share.

Enbridge reiterated its full-year guidance of generating adjusted Ebitda range of between C$15 billion and C$15.6 billion, with distributable cash flow a share between C$5.20 and C$5.50.

The board declared a dividend of C$0.86 a share, up 3%.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

05-06-22 0735ET