Spectra Energy Partners, LP Announces Unaudited Consolidated Earnings Results for the Second Quarter Ended June 30, 2018; Provides Capex Guidance for the Full Year of 2018
August 02, 2018 at 04:15 pm EDT
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Spectra Energy Partners, LP announced unaudited consolidated earnings results for the second quarter ended June 30, 2018. For the quarter, the company reported operating revenues of $726 million against $695 million a year ago. Operating income was $386 million against $343 million a year ago. Earnings before income taxes were $398 million against $372 million a year ago. Net income was $391 million against $367 million a year ago. EBITDA was $570 million against $519 million a year ago. Total distributable cash flow was $398 million against $341 million a year ago.
For the six months, the company reported operating revenues of $1,505 million against $1,395 million a year ago. Operating income was $828 million against $675 million a year ago. Earnings before income taxes were $821 million against $731 million a year ago. Net income was $809 million against $821 million a year ago. EBITDA was $1,166 million against $1,018 million a year ago. Total distributable cash flow was $851 million against $697 million a year ago. Total capital spending for the six months ended June 30, 2018, was $617 million, consisting of $542 million of growth capital expenditures and $75 million of maintenance capital expenditures.
The company has $1.6 billion of capital expansion spending planned in 2018.
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 Second Quarter Ended June 30, 2018; Provides Capex Guidance for the Full Year of 2018