logo
Share SHARE
FONT-SIZE Plus   Neg

Spectra Energy Partners Q1 Net Income Rises - Quick Facts

Spectra Energy Partners, LP (SEP: Quote) Friday released the financial results for the first quarter ended 31 March 2012, reporting net income of $52.4 million for the quarter, higher than $48.9 million reported for the corresponding quarter last year. Net income per limited partner unit , however, declined to $0.48 from $0.50 in the year-ago quarter.

According to the company, the increase in net income and cash available for distribution reflects the addition of the Big Sandy Pipeline and East Tennessee's Northeastern Tennessee assets to the portfolio in July and September 2011, respectively. These increases were partially offset by lower revenues at Ozark.

Operating revenues for the quarter increased to $61.9 million from $51.20 million in the corresponding quarter last year.

Analysts polled by Thomson Reuters expected the company to earn $0.47 per share on revenues of $64.61 million for the quarter. Analysts' estimates typically exclude special items.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Software giant Microsoft Corp. said Monday after the markets closed that its second quarter profit fell 11% from last year, hurt mainly by integration and restructuring costs as well as higher income tax expenses even as revenue increased 8% due to strong sales of its gadgets and cloud-based products. English-made Cadbury chocolates will no longer be available in the United States, the result of a settlement between Hershey and a New Jersey-based import company. Beloved treats such as the Cadbury Creme Egg will only be sold in the U.S. using American chocolate, angering those who say the creamier... Gas prices are set to climb again after a long time due to rising wholesale prices. According to Lundberg Survey, while the national average price of gas fell 13 cents in the past two weeks to $2.07 a gallon, it could soon rise due to increased costs of crude oil in the past 10 days.
comments powered by Disqus
RELATED NEWS
Trade SEP now with 
Follow RTT