Enbridge Backs 2021 Financial Targets, Sees Growth in 2022

By Colin Kellaher

Enbridge Inc. on Tuesday affirmed its full-year earnings guidance and forecast a rise in profits next year.

The Calgary, Alberta, energy company, said it still expects adjusted earnings before interest, income taxes and depreciation of 13.9 billion to 14.3 billion Canadian dollars (US$10.9 billion to US$11.2 billion) this year, along with distributable cash flow of C$4.70 to C$5 a share.

For 2022, Enbridge said it expects Ebitda of C$15 billion to C$15.6 billion, up 9% at the midpoint compared with its 2021 guidance, and distributable cash flow of C$5.20 to C$5.50 a share, reflecting midpoint growth of 10%.

The company also extended its outlook for average annual growth of 5% to 7% in per-share distributable cash flow through 2024.

Write to Colin Kellaher at [e-mail]

(END) Dow Jones Newswires

12-07-21 0752ET