Spectra Energy Partners Q2 Earnings Rise - Quick Facts

(RTTNews) - Spectra Energy Partners, LP (SEP), an investment arm of Spectra Energy Corp. (SE), Wednesday reported second-quarter earnings which increased, helped by lower interest expense and higher revenues boosted by the Express-Platte acquisition.

In addition, CEO of Spectra Energy Partners, Greg Ebel, said the company was well positioned to exceed its annual outlook.

Net earnings advanced to $215 million from $177 million a year earlier. Per-share earnings decreased to $0.59 from $1.52 last year.

Prior-year results have been recast to include the U.S. Assets Dropdown as of January 1, 2013 and Express-Platte as of March 14, 2013.

On average, twelve analysts polled by Thomson-Reuters estimated the company's earnings to be $0.59 for the quarter. Analysts' estimates typically exclude one-time items.

EBITDA totaled $353 million, compared with $348 million a year ago.

Quarterly revenues increased to $531 million from $492 million in the same period last year. Analysts expected revenues of $560.30 million.