Spectra Energy profit misses Street on weak oil, gas prices
Aug 2 (Reuters) - Natural gas pipeline operator Spectra Energy reported a lower-than-expected quarterly profit as oil and natural gas prices fell, and the company said it expects weak commodity prices to affect full-year results.
Net income from controlling interests fell to $215 million, or 33 cents per share, in the second quarter, from $284 million, or 44 cents per share, a year earlier.
Analysts on average had expected 36 cents per share, according to Thomson Reuters I/B/E/S.
Operating revenue dipped 6 percent to $1.11 billion, below market estimates of $1.27 billion.
- Tweet this
- Share this
- Digg this