Enbridge reports strong q1 2020 results; re-affirms outlook

Enbridge reports strong first quarter 2020 results; re-affirms outlook.q1 adjusted earnings per share c$0.83.q1 earnings per share estimate c$0.74 -- refinitiv ibes data.q1 loss per share c$0.71.qtrly distributable cash flow was $2,706 million, compared with $2,758 million.reaffirmed financial guidance range for 2020 distributable cash flow per share of $4.50 to $4.80/share.enbridge-believe volumes will recover in h2 as covid-19 related restrictions are slowly lifted, mobility gradually returns to north america in q3 & q4.we plan to reduce 2020 costs by approximately $300 million.deferring about $1 billion of 2020 secured growth capital spending to reflect refined execution schedules in light of covid-19.don't expect to be entirely immune to covid-19 impacts in near term."the global economy has severely contracted and we're experiencing energy demand disruption on a scale that we haven't seen before".enbridge-agreement to sell 49% of interest in 3 offshore wind projects under development in france to cpp investments for proceeds exceeding $100 million.enbridge - non-cash impairment of co's investment in dcp midstream of $1,736 million, non-cash unrealized derivative fair value losses of $1,956 million in q1.sold $0.4 billion of assets in q1.
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