Spectra Energy Q1 Profit Increases - Quick Facts

(RTTNews) - Spectra Energy Corp. (SE), which owns and operates natural gas-related energy assets, reported first-quarter 2014 net income from controlling interests and ongoing net income of $419 million or $0.62 per share, up from $340 million, or $0.51 per share in 2013.

Reported and ongoing earnings before interest, taxes, depreciation and amortization (EBITDA) was $1.01 billion, compared with $831 million in the prior-year quarter. Distributable cash flow for first quarter 2014 was $631 million, compared with $503 million in the prior-year quarter.

Operating revenues for the quarter grew to $1.843 billion from $1.589 billion in the prior year quarter.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.51 per share and revenues of $1.82 billion for the quarter. Analysts' estimates typically exclude special items.