SEP 3Q Results a Touch Light on Tougher Comps but Expansion Program Remains Robust
While its sponsor works to consummate its merger with Enbridge, Spectra Energy Partners reported third-quarter results slightly below expectations. The company generated $469 million of adjusted EBITDA versus the consensus expectation of $480 million. The partnership saw better ongoing EBITDA in its transmission segment, but produced underwhelming results in its liquids segment as the third-quarter 2015 disposal of equity earnings from the Sand Hills and Southern Hills NGL pipelines made for a t...Spectra Energy Partners is a partnership holding company. Through its subsidiaries and equity affiliates, the company is engaged in the transmission, storage and gathering of natural gas, and the transportation and storage of crude oil, through interstate pipeline systems in the U.S. and Canada. The company's operations and activities are managed by its general partner, Spectra Energy Partners (DE) GP, LP. The company manages its business in two reportable segments: U.S. Transmission, which provides transmission, storage, and gathering of natural gas in northeastern and southeastern U.S.; and Liquids, which provides transportation and storage of crude oil in central U.S. and Canada.
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