Spectra Energy Partners Q4 Profit From Controlling Interests Declines

(RTTNews) - Spectra Energy Partners, LP (SEP) reported fourth-quarter net income from controlling interests of $301 million or $0.70 per limited partner unit compared to $304 million, or $0.82 per limited partner unit, prior-year quarter. The company noted that its fourth quarter results included non-recurring special items of $36 million, which decreased earnings per limited partner unit by $0.11 for the quarter. Ongoing net income from controlling interests was $337 million for the quarter, or $0.81 per limited partner unit, compared with $305 million, or $0.82 per limited partner unit, in the prior-year quarter.

On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $0.82 for the quarter. Analysts' estimates typically exclude special items.

Fourth-quarter operating revenues increased to $663 million from $634 million, a year ago. Analysts expected revenue of $690.66 million for the quarter.