Enbridge Inc. (TSX: ENB) released this morning its Q3 2021 financial results, which saw the company post $11.5 billion in revenue. This is an increase from Q2 2021’s $10.9 billion and Q3 2020’s $9.1 billion.
The majority of the quarterly revenue came from the company’s commodity sales, notching $7.3 billion. The other revenue streams came from transportation and other services, and gas distribution sales, contributing $3.7 billion and $492 million, respectively.
The company’s operating margin, however, dropped to 12.1% from 16.6% last quarter and 23.0% last year. Further down, net earnings came in at $682 million, a decrease from last year’s $990 million. This translates to $0.34 earnings per share.
The firm reiterated it is on track to meet its EBITDA guidance for 2021 of $13.9 billion to $14.3 billion. To date, it has recorded $10.0 billion EBITDA for the first nine months.
The company ended the quarter with $515 million in cash and cash equivalents, up from its starting balance of $490 million at the start of the year. This puts the balance of the current assets at $8.6 billion while current liabilities came in at $15.4 billion.
Enbridge last traded at $52.32 on the TSX.
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