Spectra Energy Partners, LP Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Provides Earnings Guidance for the Full Year 2017
May 10, 2017 at 04:15 pm EDT
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Spectra Energy Partners, LP announced unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported operating revenues of $700 million against $624 million a year ago. Operating income was $332 million against $324 million a year ago. Earnings before income taxes were $359 million against $315 million a year ago. Net income was $354 million against $311 million a year ago. Net income was $354 million against $311 million a year ago. Total distributable cash flow was $356 million against $371 million a year ago. EBITDA was $499 million against $447 million a year ago. Maintenance capital expenditures were $26 million against $35 million a year ago.
The company expects 2017 distributable cash flow within the range of $1.4 billion to $1.48 billion. The partnership reaffirmed plans for quarterly penny-and-a-quarter distribution increases through 2017, and a coverage ratio within its targeted range of 1.05 to 1.15 times.
Spectra Energy Partners, LP is a United States-based company. The Company provides pipeline and storage facilities for master limited partnerships businesses in the United States with expanding natural gas, crude oil, and liquids markets. It offers pipeline services for growing supply areas to demanded markets for natural gas and crude oil.
Spectra Energy Partners, LP Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Provides Earnings Guidance for the Full Year 2017