By Allison Prang
Energy-infrastructure company Enbridge Inc. reported a profit for the first quarter.
The Canadian company on Friday reported a profit of 1.9 billion Canadian dollars (US$1.56 billion). A year earlier, Enbridge's loss was C$1.4 billion. Earnings were C$0.94 a share, while the loss a year earlier was C$0.71 a share. Adjusted earnings were C$0.81 a share, the company said. According to FactSet, analysts were expecting C$0.72.
The company affirmed its guidance for this year for distributable cash flow of between C$4.70 and C$5 a share and for earnings before interest, taxes, depreciation and amortization of between C$13.9 billion and C$14.3 billion.
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(END) Dow Jones Newswires