Operational Updates | Quarterly / Earnings Reports
Spectra's Year-End Income Hit by Low Commodity Prices
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Spectra Energy Corp reported 2012 net income from controlling interests of $940 million, or $1.43 diluted EPS, compared with $1.18 billion, or $1.81 diluted EPS in 2011. Ongoing 2012 net income was $938 million, or $1.43 diluted EPS, compared with $1.16 billion, or $1.77 diluted EPS, in the prior year.
"Throughout 2012 Spectra Energy's fee-based businesses generated strong earnings and cash flows, helping to offset the effects of lower commodity prices," said Greg Ebel, president and chief executive officer, Spectra Energy Corp.
"In both the near and longer term, Spectra Energy will continue to realize significant opportunities in the natural gas, natural gas liquids and crude oil infrastructure businesses. As a result, we are targeting investments of $25 billion in capital expansion…
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