CALGARY — Enbridge Inc. reported a third-quarter profit of $682 million, down from $990 million in the same quarter last year.
The pipeline operator says the profit amounted to 34 cents per share for the quarter ended Sept. 30, down from 49 cents per share a year ago. Operating revenue grew to $11.47 billion compared with $9.11 billion.
On an adjusted basis, Enbridge says it earned 59 cents per share in its latest quarter, up from an adjusted profit of 48 cents per share in the same quarter last year.
Analysts on average had expected an adjusted profit of 57 cents per share, according to financial markets data firm Refinitiv.
Enbridge also announced the appointment of former Aera Energy chief executive Gaurdie Banister and Jane Rowe, vice chair, investments, at the Ontario Teachers’ Pension Plan to the company’s board of directors.
The pair replace Marcel Coutu and Maureen Kempston Darkes, who stepped down from the board on Nov. 1.
This report by The Canadian Press was first published Nov. 5, 2021.