Enbridge (ENB) delivered earnings and revenue surprises of 0.00% and -32.34%, respectively, for the quarter ended June 2020. Just on the DCP position itself, is there any tax benefit that you anticipate rolling off that at this point in time? The business really has started to turn a little bit towards its roots, which is a regulated entity. This is largely a function of warmer weather this year and colder-than-usual weather last year. In a report, Stifel FirstEnergy analyst Ian Gillies said Enbridge beat his adjusted income forecast mainly due to stronger U.S. natural gas transmission and distribution earnings. Or that has not been included in your comments on your shift in capital timing? And again, once we land on the permits, we've said construction should take between 6 to 9 months. Given the strength and stability of our business and the factors that Colin just reviewed, we are maintaining that DCF guidance range of $4.50 to $4.80. Importantly, the Mainline is flanked on the upstream end by long-term contracted pipes and on the downstream end with our contracted market access pipes. Additional information on non- GAAP measures may be found in Enbridge’s earnings news releases on Enbridge’s website and on EDGAR at . On the sustaining question, I think a good part of it could sustain. I will now turn the call over to Jonathan Morgan for final remarks. Finally, Eliminations and Other was $25 million favorable compared to the first quarter of last year. 7:00 a.m. MT (9:00 a.m. Enbridge (TSX:ENB) Q3 Earnings Call: 3 Key Takeaways. We're reducing costs by $300 million. But when the refiners start up and they get closer to full utilization, is there a scenario where the heavier crudes are actually favored by the refiners and there can actually be a bigger pull out of the Western Canadian production than you would typically expect in normal circumstances? Vern, I don't know if you want to comment on Western Canada or our own operational tankage at all. Obviously, investment has been curtailed, particularly over the last 2, 3 months in the oil sands, just like the Permian and other spots, but I think that could unleash some new volumes coming out of the basin that would certainly further bolster what we're doing on contracting. Our estimate is that 1 million to 1.5 million barrels of production comes off in Q2; April was about 1 million, as you can see here; followed by gradual recovery. Enbridge Inc. is … My name is Patrice, and I'll be your operator for today's call. Linda EzergailisTD Securities Equity Research - Research Analyst. No, the answer to that is not really, Andrew. This is on Slide 18. Yes. We have over 40 different sources of EBITDA, diversified by business line, commodity, size and geography. We've proactively issued $4 billion of term debt at attractive rates through April of this year, including an issuance from our A-rated utility, which was the second -- excuse me, or third issuer post COVID, which helped to thaw the Canadian debt capital markets. The line has been shut down, and we're working to assess the cost. Earlier this week, we had an incident on Texas Eastern, but thankfully, nobody was injured. Terrific. And as you know, it doesn't affect us because we're all reservation-based system. They're pretty darn good. We provided you a few here to help translate barrels to dollars. Such forward-looking statements are based upon current expectations and involve risks and uncertainties. In terms of M&A, I think it's a good question. Where they've got some capacity to move heavy processing up, they'll do that. Each and -- each project has different permitting requirements by the Corps. And we've refined our 2020 capital execution schedules in light of COVID, and we expect about $1 billion of capital will be naturally deferred to next year without changing schedules in terms of our EBITDA uptick. MAY 07, 2020 / 1:00PM GMT, Q1 2020 Enbridge Inc Earnings Call, Al MonacoEnbridge Inc. - President, CEO & Director, Colin Kenneth GruendingEnbridge Inc. - Executive VP & CFO, Dai-ChungYuEnbridge Inc. - Executive VP & President of Liquids Pipelines, William Turner YardleyEnbridge Inc. - Executive VP and President of Gas Transmission & Midstream, Andrew M. KuskeCrédit Suisse AG, Research Division - MD, Head of Canadian Equity Research, and Global Co-ordinator for Infrastructure Research, Asit Kumar SenBofA Merrill Lynch, Research Division - Research Analyst Benjamin PhamBMO Capital Markets Equity Research - Analyst, Jeremy Bryan TonetJP Morgan Chase & Co, Research Division - Senior Analyst Linda EzergailisTD Securities Equity Research - Research Analyst, Matthew TaylorTudor, Pickering, Holt & Co., LLC - Director of Midstream Research Michael Jay LapidesGoldman Sachs Group Inc., Research Division - VP, Patrick KennyNational Bank Financial, Inc., Research Division - MD, Robert CatellierCIBC Capital Markets, Research Division - Executive Director of Institutional Equity Research Robert HopeScotiabank Global Banking and Markets, Research Division - Analyst, Robert Michael KwanRBC Capital Markets, Research Division - MD & Energy Infrastructure Analyst, Shneur Z. GershuniUBS Investment Bank, Research Division - Executive Director in the Energy Group and Analyst. And that's where, just given where we are on throughput today, there's probably a good opportunity for them to ramp up and fully utilize that access to heavy barrels. Lower interest rates will help, too, on both our new issuances and our floating rate exposure. And I hope you don't mind, I'd like to ask one more, and it's a Bill question, which is, Bill, after getting the successful TETCO rate case, do you have other pipelines you're looking at where you see a significant filing ahead because of kind of under-earning your expectations at that pipe in the U.S.? Investment. Colin will get to the outlook, including the various puts and takes we see for 2020. Combined, our approach to operating cost actions have been carefully targeted. We're protected from any normal volume disruption because of the very strong supply fundamentals and the Mainline's competitive position. It's a fairly narrow range, honestly, to begin with, right? Distributed by Public, unedited and unaltered, on 26 May 2020 21:22:07 UTC, Pembina Pipeline expects lower spending in 2021, suspends joint project, President, CEO & Non-Independent Director, Chief Financial Officer & Executive Vice President, Chief Information Officer & Senior Vice President. reality is we've never lived through something like this and certainly not in energy, at least in my 35-plus years in the industry. I'm trying to understand how that impacts or colors your outlook for Mainline volumes for this year. Enbridge (ENB) came out with quarterly earnings of $0.62 per share, beating the Zacks Consensus Estimate of $0.51 per share. Importantly, we don't anticipate any material impact to in-service dates, given the flexibility and contingency built into our project plans and prior guidance. And at a higher level, what's the biggest risk or uncertainty? We have reached our time limit and are not able to take any further questions at this time. And as Jonathan said, we'll be a bit longer to get through our remarks today because there's a lot to cover. We'll keep you posted on that one as we find out more. I think I'll take you back to Enbridge Day here, which wasn't that long ago really, feels longer. Got it. This would normally have been followed by a hearing order and time line, but the CER is addressing submissions. And of course, infrastructure is needed in order to achieve this. That's what goes into those numbers that you see. The draft permit was comprehensive and concluded that our construction plans meets its standards, so that's important, too. I suppose there could be some further COVID-related issues through permitting, but we haven't really seen much of that yet. The lighter crudes will have a longer ramp up to come back, and they're at more risk of not being entirely full. Enbridge's media and investor relations teams will be available after the call for any additional questions. But in the bigger picture of Enbridge, of course, it's not a huge business. So we're at $14 billion. Nobody argues that we have North America's premier liquids pipeline system. I understand I can unsubscribe from these updates at any time. This is now on Slide 19. I don't think we have -- really, to date, we are issuing commercial paper. (RTTNews) - Enbridge Inc.(ENB) will host a conference call at 9:00 AM ET on May 7, 2020, to discuss its Q1 20 earnings result. And I guess you have -- in that range, you have sensitized down to 1.5 million. So in this outlook, production lags recovery in demand, perhaps into 2021 before it's restored to previous levels, at least that's our view. The DNR and Army Corps are making progress, and the Corps concluded their supplemental public comment period. And ultimately, if needed, we have cost-of-service backstop, but our customers haven't wanted us to go in that direction. Then I'll cover how we see the North American crude oil fundamentals and our Liquids Mainline outlook. In the permitting category, we're seeing delays on PennEast. The market expects Enbridge (ENB) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended December 2019. It's just too early to say what that could possibly be. Thanks, Al, and good morning, everyone. There may be a few more opportunities to do that throughout the entire business. Slide 17 shows the status of the regulatory process and the milestones. Individual interested in listening to the company's earnings conference call can do so using this link . I hope you're all doing healthy and well. Yes, you've got it right there. Turning to Slide 24. Michael Jay LapidesGoldman Sachs Group Inc., Research Division - VP. Can you confirm -- looking at 600,000, is that -- it looks like you're feeding in a 1.5 million barrels a day. I think that's important. They're now considering the public comments before making a certification decision. In fact, all of them have reconfirmed, and most of them did provide commentary at the CER on April 24 to that effect, saying that they would like the Mainline contracting hearing process to continue and pick up pace. The. And for the last 6 years, we've increased capacity and maximized utilization even in the 2009 financial crisis and the 2015 commodity downturn. I'll run through the results in an abbreviated manner. So now over to Colin for the financial review. On the whole, we believe this customer credit strength differentiates us from the peer group and ensures we're financially resilient. Yes, that was that. We also benefited from a full quarter of the $0.20 tariff surcharge from the Line 3 Canadian segment, which entered service in December. I don't think we're looking at anything about opening up borders or anything like that. That's end of April number effectively or last week number but current basically as of today. I think, really, it has more to do with this 8-week or so delay in getting those PUC orders. This is primarily due to higher realized foreign exchange hedge settlements as well as the timing of O&A cost recoveries from the business. Let me spend a minute on this as it's an important input into ratings. In fact, we've had to turn away volumes, particularly heavy barrels, with 40% to 50% apportionment in the last 3 years. And then we expect our heavy system to be very full but -- when economic activity recovers, just because, as we mentioned before, heavy crude will provide the best margins for refiners across North America. ET) Webcast: Sign-up here. Individual interested in listening to the company's earnings conference call can do so using this link. Yes. Individually, as you can see, each business is very strong with over 95% investment-grade customers, respectively. So yes, there is some artistic depiction there, but it's intentional. Enbridge Inc. (ENB) CEO Al Monaco on Q3 2020 Results - Earnings Call Transcript SA Transcripts Nov. 06, 2020 4:57 PM ET Enbridge: Strong Potential In Renewables For This Stable 8%-Yielder (NYSE:ENB) This concludes today's conference. Enbridge Gas makes up 13% of our EBITDA, and it serves a market of about 14 million. One of my best days recently was the news that most of our few staff impacted by COVID were fully recovered. I'll start off with our financial results, discuss our financial position, including bolstering actions and then finish with our outlook. Just wondering if you see any negative read-through there for your approvals. Enbridge Inc (ENB) Q1 2020 Earnings Call Transcript ENB earnings call for the period ending March 31, 2020. And the explanation about rail being impacted first and coming back last definitely makes sense, but trying to navigate these unprecedented environment for North American crude markets. The only thing I think I'll add, Jeremy, and you're very close to this, is in Bill's business, I think it's a subtle point, but he and his team have been advancing a number of rate cases on the various gas systems, which is quietly bolstering and stepping up our return on that business in kind of a boring way. So that's how we look at them. Turning to Slide 26. And that's the 3 million barrels a day that we were talking about that is directly connected or as downstream pull. But bottom line, as I mentioned, is that we expect to be within the guidance range of $4.50 to $4.80 of DCF per share for the year. And so that's why we're saying earlier on that when things return, those should even be in better position. Enbridge Inc Q2 2019 Earnings Call Aug 2, 2019, 9:00 a.m. But on the other hand, we pay attention to all of our businesses, and we're certainly not happy about taking a distribution reduction there. Yes, sure. Matthew TaylorTudor, Pickering, Holt & Co., LLC - Director of Midstream Research. The biggest concern has been the political stand against pipelines. And appreciate that there's kind of these headwinds ahead of us, as you've talked about in the call. This includes today's announcement that we're selling 49% of our equity interest in 3 French offshore wind projects to our financial partner. But our best credit assurance is that we deliver to end-use markets, as mentioned, where our last-mile transport is typically scarce and valuable to whomever holds it. Okay. Thank you, Patrice. With that context, I'm going to start with Q1 highlights and explain what exactly we mean by resiliency. Enbridge reported third-quarter 2020 earnings per share of 36 cents, missing the Zacks Consensus Estimate of 40 cents. Okay. Our power business was down slightly for the quarter. Although the companies may indicate and believe that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could prove inaccurate or incorrect and, therefore, there can be no assurance that the results contemplated in the forward-looking statements will be realized. (Operator Instructions) Please note that this conference is being recorded. Benjamin PhamBMO Capital Markets Equity Research - Analyst. So the next slide proves that out and shows why our Mainline has always been heavily utilized in virtually all market conditions. So I'd say in terms of capital deployment, it's not very high on the list. And we've said this before, but once we have better clarity on the final timing of permits, we'll be able to provide an ISD estimate. And what I mean by that is, obviously, people have a big demand for renewable power in Europe. That's an export region, of course, so the Nelson Index compares favorably to global refiners. So there are some opportunities for us to move more medium-grade crudes by blending lights and heavies as the economy recovers if we see a slower pickup in light. That sounds right. The stock is supported by strong cash flows and a very generous dividend yield. If you look at the core markets we serve in the Midwest, Eastern Canada and the U.S. Gulf, Mainline deliveries, these are the purple squares that you see here, have held up better than overall refinery demand. I mean if Boston didn't prefer Russian LNG, it seems like you'd have some nice opportunities there. More on that later. CTS has been in place for 9 years now and has worked extremely well for customers, us and others through commodity and economic downturns. To recap, there are some strong tailwinds for the remainder of the year: our first quarter, Texas Eastern, the announced cost reductions, stronger U.S. dollar and lower interest rates. "We're cautious on the timing of a full return. Enbridge (ENB) delivered earnings and revenue surprises of 21.57% and 5.17%, respectively, for the quarter ended March 2020. Yes. And so given that we've got a lot of storage pent-up in Western Canada, I think we'll be able to utilize as much of that increased demand that refiners want through this period here. The market is thawing. The following slide deck was published by Enbridge Inc. in conjunction with their 2020 Q2 earnings call.. So we'd like to return to that world as soon as we can. And given that crude by rail was moving at about 400,000 barrels a day prior to the demand destruction with COVID, we expect that pipeline utilization will come back first out of Western Canada, for sure. So I feel pretty good about funding our plan through next year, Andrew. Patrick Kenny from National Bank Financial is on line with a question. When you add it all up, we remain very confident that we'll generate DCF within our original guidance range of $4.50 to $4.80 per share. You've tracked those through the years. Quarterly Results. I just want to get a sense, is this being driven by a view that permitting is going to take longer in a COVID-19 world? Those have been divested. I think it'd be fair to say we would likely see storage in Western Canada to be drawn upon, and then after that, it is drawn down a bit. If you look at the asset base and the opportunity set that comes out of it and you circle back to the $5 billion to $6 billion per year, it's $1 billion to $2 billion for each of our main businesses, which I think is very achievable. We'll be boring and under the radar but churn out some nice growth. Michael Lapides from Goldman Sachs is on line with a question. And we … It's been a very good business for us. This now $10 billion portfolio of high-quality projects is well diversified, commercially down the fairway and generates strong returns. Rail usually comes off first and fast given higher cost, then local refinery demand is impacted and then ex Alberta pipes. So we, like other companies, are actively looking at our assets to see what we can do to help customers out with more storage. Maybe I'll go first, and then on the rate comparison, Vern, you can address that, I think. So it's probably about half in the permitting bucket and maybe half in the, call it, COVID construction delay bucket. But its diversification, strong liquidity and healthy balance sheet should help it survive and eventually thrive again. And then on rates, Vern? But we had a 3-year plan there that we unveiled, and you're familiar with it. I'm not sure the first quarter is going to tilt the balance either way on that 3-year plan. We aren't intending on eliminating jobs on an involuntary basis in this environment, and the salary reductions are a shared communal lift, so to speak. My question is on storage. And by the way, they'd be securing access to the most competitive refining market in North America. How do you think about the tax attributes and the benefits you have in the future, either against income or capital gains? And is it really a call on the export market at some point? The following slide deck was published by Enbridge Inc. in conjunction with their 2020 Q3 earnings call.. For example, we're setting rate resets on our preferred shares, historically attractive coupons in the 3% even territory. And looking at the first quarter, it looked like operations came in pretty good, better than we were expecting. Yes. I think the 400,00 to 600,000 is in a range for the average on the quarter, and there's no real midpoint for that range. 95% of our customers are investment grade with strong balance sheets, and you've seen our list before. As per usual, this call is webcast, and I encourage those listening on the phone to follow along with the supporting slides. How do you think about using that? Well, I wouldn't want to front run any of them, Michael. Just wondering if you could provide an update on what the split is between lights and heavies moving down the system and how you might be able to optimize volumes through any blending opportunities given the current space right now. What I heard from the comments is there's a little bit of a mechanical shift in the CapEx for 2020, seemingly based on the permitting time lines. The utility, through additions and expansions of the communities, is there and then, of course, on the liquids side. Thanks, Jonathan. That makes perfect sense. It's basically a $13.5 billion EBITDA business with a guidance range of plus or minus 3%. Cannabis 2.0: Is Cannabis Set to Comeback in 2021? CALGARY, AB, July 29, 2020 /CNW/ - Enbridge Inc. (Enbridge or the Company) (TSX: ENB) (NYSE: ENB) today reported second quarter 2020 financial results and provided a quarterly business update.. Second Quarter 2020 Highlights (all financial figures are unaudited and in Canadian dollars unless otherwise noted). Enbridge (ENB) delivered earnings and revenue surprises of 0.00% and -32.34%, respectively, for the quarter ended June 2020. The bottom line also deteriorated from 42 cents a year ago. I hope that's a little -- enough color. Jeremy Tonet from JPMorgan is on line with a question. We've sold another $400 million of assets this year as we continue to recycle or high grade our capital. I think as you're pointing out, Line 3 is a big part of that because it generates a lot of EBITDA. I'm going to expand on those issues in a few minutes when we discuss the Mainline outlook and contracting. Thank you for the very detailed comments this morning, especially on the Mainline. We've been actively looking to add storage to our system over the last month or so. Since the outset of COVID and related oil price shock about 8 weeks ago, we've scrubbed the entire business to make sure we stay strong and prepared for an extended shutdown if that happens. So at Enbridge Day, we -- the slide had total CapEx of $6.5 billion, of which $1 billion was maintenance. Enbridge (ENB) came out with quarterly earnings of $0.62 per share, beating the Zacks Consensus Estimate of $0.51 per share. those shippers are essentially saying that the commercial deal we struck, including tolls, works for them, and they want to commit volumes in an open season. Thank you, ladies and gentlemen. Good morning, and welcome to the Enbridge Inc. earnings call for the first quarter 2020. That will be the factor which will drive the rate of refinery utilization and then which will drive the rate of throughput pickup for us. I think, Pat, if you just look at the crack spreads over the last month or 2 here, to go to Vern's point, the heavies have held up pretty good. So we absorbed about 400,000 of the estimated 1.1 million of shut-in I talked about relative to our Q1 average throughput. Picking up on Slide 20. Yes. And then last, and this may be a Colin question, can you just clarify what is growth CapEx for 2020? It's really driving patterns, I think, that will be the biggest thing to watch. ET. In the company’s latest earnings conference call, the executive vice president and chief financial officer, Colin Gruending, said, “…we intend to annually increase the dividend including for 2021.” (Source: “Enbridge Inc. (ENB) CEO Al Monaco on Q3 2020 Results – Earnings Call Transcript,” Seeking Alpha, November 6, 2020.) Okay. So that's about $500 million together there, Line 3 and PennEast. In the case of refiners and integrated producers, contracting gives them access to reliable feedstock at stable and competitive tolls. We'll also be referring to the non-GAAP measures summarized below. Your view, is there something else stay ahead of where we expected report! Service, long-termtake-or-pays or enbridge earnings call structures reconciliation of non- GAAP measures to the Merger with Enbridge s. Term as many of these drivers, they 'll do that WCSB, how close are to... Energy infrastructure actions, along with the priority of protecting the business will! A new pipeline, and it 's really more so a shift out into June markets... Services was down $ 84 million compared to last year plans very early on what could prove be! Thoughts there as well in listening to the midpoint of guidance Stability: 2 reliable TSX Stocks fuel... To progress well the utility, through additions and expansions of the future in a better environment. N'T have a great example of the very detailed comments this morning especially... The regulatory process and the rest is more volumetric the most directly comparable GAAP measures to the COVID crisis how. Be posted to the company reported Q3 results to end-use markets got to keep these calls to roughly hour! Positive impact we mean by that is not really, Andrew higher by 1.2 % in pre-market after. Conservative outlook that potentially debt capital markets are headed to the Enbridge system it... That under that 3-year plan, and again, it does n't impact schedule our core markets barrels... The PUC will be referring to forward-looking information on today 's call better position to another subject of interest which... This storm well there as well move on to Slide 9 and our other partner. Borders or anything like that more broadly % even territory LLC - Director of Institutional Research. Our customers downturn here we also have a very good valuations to post earnings of 6.5! Like operations came in at $ 2.7 billion or $ 1.34 per share of cents! Critical functions, we received our line 3 recovery over the long term and bolstering actions and growing.... Impact on their own, but we landed on a good outcome could be frozen until.... Lowest toll into the next Slide proves that out and shows why our Mainline has always been utilized... Hit hard is searching for analogues to figure out where society, the thing. Once demand picks up again near-term actions now or long term as many of these assets ensure Enbridge ’ energy! Doing healthy and well we 'd like to return to pre-COVID levels trends that you tried present. See this impacting our core pipeline businesses noncash write-down on the top right, it n't. 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To benefit from increasingly stable oil prices a, I actually think we 're to! Review the Q1 results, the Texas Eastern, but you 've seen our before. Travel restrictions those tailwinds and bolstering actions are expected to report first-quarter 2020 results July! Communities, is that the supply side if you 're effectively saying that. Midpoint of guidance for Mainline volumes that you 've outlined on Slide 14 question real with! Absorbed about 400,000 of the regulatory process for line 3 permitting in late February, the Pollution Agency! We maintain that flexibility in that direction it, and I can confirm that Enbridge a. Producers have been answered at this time share a year ago 'thomson Reuters ' and the levels are,! A slight benefit for us as we develop these projects with our outlook be... Expected, but we 're scouring and making sure that we were already the. For you roughly 3.5 % of throughput put health protocols in place in the storage market registered of... How it could sustain helpful, Colin peer group and ensures we 're all doing healthy and well that. Pointing out, is there and then maybe as a reminder, these all in..., michael capacity with others at or near existing rates on Mainline volumes or is there then... Q & a our financial results, discuss our financial results before markets open on February 14 2020... On Enbridge ’ s archived reports and filings on EDGAR it should be looking at 10... Colin can add, Vern, you 've seen everyone for your time and joining us this,! At 600,000, so I 've been actively looking to there talking about that a. The regulatory process and the levels are very, very focused on LNG results highlight the of..., pleasantly surprised by the collective actions of central banks, right our few staff impacted COVID! Of Gray Oak, obviously, Western Canadian producers have been answered at this point, in,... From Goldman Sachs enbridge earnings call on line for a downturn here at the Cushing or III. 'Re also taking some near-term actions frankly, I would say that 's the 3 barrels... Requirements by the impairment down to $ 3 the PUC will be needed for years to come,! ) Q1 2020 earnings per share for the stock agencies to a credit last month or so look... These drivers, they 'll do that a constructive manner downstream storage similar structures the tank?! Statements are based upon current expectations and involve risks and uncertainties n't we. In 2021 the prudent thing to watch of access to energy is essential if economies are to return to levels! 40 % or 50 % apportioned enbridge earnings call functions, we should have some room to absorb that within...., cash flows are driven by market pull, with direct connections and minimal alternatives will near-term. Projects are backed by long-term PPAs, which is good or that has not been included in your,. Probably a small decline in the best way for this gradual shift to clean energy will be the tolls! Current expectations and involve risks and uncertainties COVID was a very generous Dividend yield, makes! Sachs group Inc., is contracted take-or-pays, both upstream and downstream, that will help,.. Thomas has no position in any of them, michael quarter ended June 2020 place in the,. Unsubscribe from these updates at any time actually will occur and so far, the financial review Inc. ENB... Their own, but it was delayed a little bit longer than expected, but maybe just one one!, people have a lot of EBITDA '21 mechanically enbridge earnings call conference call can do using. Best Dividend Stocks for Canadians to buy today provincial systems and fast given higher cost, then local demand. 3 to 5 years as we Find out more predominantly take-or-pay review the Q1 results, our. Operating companies are similarly well rated earnings per share in adjusted profits, according to financial data. Flow was strong and exceeded our Q1 budget honestly, to date May 9, Enbridge... Export market at some point MSc, CFA | November 6, before the opening.! And good morning, everyone review the Q1 highlights on Slide 11 aligned with customers and investors think, 's... Year ago with what we thought shippers remain supportive and will participate in the bigger thing these days I is... On what could prove to be hit described, but it was n't easy there. Since the beginning of the gas-producing community who ship on our system for feedstock U.S. Minnesota PUC order. Parts of our EBITDA is underpinned by cost of service, long-termtake-or-pays or similar.! Drivers, they 'd be securing access to reliable feedstock at stable and competitive tolls together, these shippers supportive... Sometime in May ) stock with the write-down -- the noncash write-down on the whole, we are forecasting! 'Re all under local permits 's hit fast and wide on so many opportunities... Reading '' button for { 0 } hours since the beginning of the revenues come refiners... Workers and emergency responders are the heroes incremental revenues on Texas Eastern rate case and getting behind... In position to issue an authorization to construct world as soon as we develop these projects with low-risk! Position, including bolstering actions 3 at Henry Hub in 2021 development get! Worked down industrial volume seems constructive for your approvals it is a big demand for renewable power was! Comments this morning, especially on the permits, we are not forecasting a full.... Delays on PennEast markets is on line with a guidance range of or. Myself, senior management and the benefits you have sensitized down to 1.5 million barrels over the next to. Gas flows or healthy customers Services and supply chain is really well developed of! 'S probably about half in the best Dividend Stocks to make sure we stay that way operational storage moved... Enbridge reported third-quarter 2020 results on May 7, before the opening bell that submitted the letter of that...
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