Spectra Energy Corp. Profit Drops 25% In Q3

(RTTNews) - Spectra Energy Corp. (SE) revealed earnings for third quarter that declined compared to the same period last year.

The company said its profit dropped to $156 million, or $0.23 per share. This was lower than $209 million, or $0.31 per share, in last year's third quarter.

Analysts had expected the company to earn $0.22 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 9.7% to $612 million. This was up from $558 million last year.

Spectra Energy Corp. earnings at a glance:

-Earnings (Q3): $156 Mln. vs. $209 Mln. last year. -Earnings Decline (Y-o-Y): -25.4% -EPS (Q3): $0.23 vs. $0.31 last year. -EPS Decline (Y-o-Y): -25.8% -Analysts Estimate: $0.22 -Revenue (Q3): $612 Mln vs. $558 Mln last year. -Revenue Change (Y-o-Y): 9.7%