Major Energy Conglomerates Produce Higher, Lower Earnings

摘要

Enbridge Inc. and TransCanada Corporation - two major energy conglomerates that initially began as pipeline system operators - have posted higher and lower comparable earnings for the first quarter.rnEnbridge earnings applicable to common shareholders were $558.1 million for the three months compared to $251.3 million in 2008. TransCanada reported net income for first quarter of $334 million compared to $449 million in 2008.rnFor Enbridge the $306.8-million increase reflected a $329-million, after-tax gain on the sale of the investment in the Oleoducto Central S.A. (OCENSA) pipeline and allowance for equity funds used during construction on its liquids pipelines, partially offset by unrealized fair value losses on derivative financial instruments as well as decreased decreased earnings from International as the Company sold its interest in Compania Logistica de Hidrocarburos CLH, S. A. (CLH) in the second quarter of 2008.