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Spectra Energy (SE) Q2 Earnings, Revenues Miss

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: U.S. Transmission, 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 #2 (Buy) but that could change following its second 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 24 cents missed the Zacks Consensus Estimate of 26 cents.

Revenue : Revenues of $1,159 million came below the Zacks Consensus Estimate of $1,300 million.

SPECTRA ENERGY Price and EPS Surprise

SPECTRA ENERGY Price and EPS Surprise | SPECTRA ENERGY Quote

Key Stats : The company produced NGLs of 416 thousand barrels per day (MBbl/d), up from the year-ago quarter level of 408 MBbl/d. Price of NGLs averaged 46 cents per gallon (down 4.2% year over year), while crude oil averaged approximately $45.64 per barrel (down 21.2% year over year). Natural gas was sold at $1.95 per million British thermal units (MMBtu) as against $2.64 per MMBtu in the second quarter of 2015.

Check back later for our full write up on this Spectra Energy earnings report later!

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SPECTRA ENERGY (SE): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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