Spectra Energy Corp.SE , through its subsidiaries and equity affiliates, engages in the ownership and operation of a portfolio of complementary natural gas-related energy assets. The company operates in four segments: Spectra Energy Partners, Distribution, Western Canada Transmission & Processing, and Field Services. The company also has 50% ownership in DCP Midstream, one of the largest natural gas gatherers and processors in the U.S.
Currently, Spectra Energy has a Zacks Rank #3 (Hold) but that could change following its first quarter 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:
Earnings: Spectra Energy's earnings missed the estimates. Earnings per share from continuing operations (excluding special items) came in at 35 cents missed the Zacks Consensus Estimate of 38 cents.
Revenue: Revenues of $1,384 million came below the Zacks Consensus Estimate of $1,568 million.
Key Stats: Of the business segments, Spectra Energy Partners posted EBITDA of $473 million compared with $464 million in the year-ago period. Distribution reported EBITDA of $170 million, compared with $192 million in first quarter 2015. Western Canada Transmission & Processing reported EBITDA of $123 million, compared with $161 million in the year-ago quarter. EBITDA from Field Services was $10 million compared with loss of $14 million in the first quarter 2015.
Check back later for our full write up on this Spectra Energy earnings report later!
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