Spectra Energy Partners (SEP) Tops Q2 EPS by 3c, Revenues Miss

Spectra Energy Partners (NYSE: SEP) reported Q2 EPS of $0.78, $0.03 better than the analyst estimate of $0.75. Revenue for the quarter came in at $726 million versus the consensus estimate of $729.47 million.

HIGHLIGHTS:

• Strong quarter supported by solid base business performance and increased earnings from expansion projects
• More than $2 billion of expansion projects advancing and on target for respective 2018 in-service dates
• Received non-binding offer from Enbridge and Enbridge (U.S.) Inc. to acquire all of the outstanding SEP units not currently owned by Enbridge and Enbridge (U.S.) Inc.; a conflicts committee of independent directors has been established to review and consider the offer
• Announced 43rd consecutive quarterly distribution increase, representing a 7 percent increase over the distribution declared in August 2017

For earnings history and earnings-related data on Spectra Energy Partners (SEP) click here.

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