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Spectra Energy (SE) Q4 Earnings, Revenues Lag

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 fourth quarter 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:

Spectra Energy Corp Price and EPS Surprise

Spectra Energy Corp Price and EPS Surprise | Spectra Energy Corp Quote

Earnings : Spectra Energy's earnings lag the estimates. Earnings per share from continuing operations (excluding special items) came in at 29 cents below the Zacks Consensus Estimate of 33 cents.

Revenue : Revenues of $1,298 million came below the Zacks Consensus Estimate of $1,426 million.

Key Stats : The company produced NGLs of 371 thousand barrels per day (MBbl/d), down from the year-ago quarter level of 409 MBbl/d. Price of NGLs increased 31% and averaged 55 cents per gallon, while crude oil costs increased 16.5% and averaged approximately $49.15 per barrel, both on a year-over-year basis. Natural gas was sold at $2.98 per million British thermal units (MMBtu) as against $2.27 per MMBtu in the fourth quarter of 2015.

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

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Spectra Energy Corp (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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