Spectra Energy 4Q14 earnings beat estimates

Spectra Energy (SE) released its financial information for 4Q14 on February 4, 2015. Other energy midstream companies that have released 4Q14 results include Kinder Morgan (KMI) and DCP Midstream (DPM). Williams Companies (WMB) is also expected to release its 4Q14 financial results soon. Spectra Energy makes up 2.03% of the Energy Select Sector ETF (XLE).

Between 3Q12 and 4Q14, Spectra Energy’s adjusted revenues increased by 49%. From 4Q13 to 4Q14, revenues increased by 2.2%.

As noted in the graph above, Spectra Energy’s adjusted revenues fell short of estimates in some of its previous quarters. In 4Q14, adjusted revenues exceeded estimates by ~1%. On average, however, adjusted revenues have fallen short of consensus revenues by ~2% in the past ten quarters.

The 1Q15 consensus sell-side analysts’ adjusted revenues estimate for Spectra Energy is $1.762 billion, ~10% higher than the $1.6 billion it recorded in 4Q14.

Between 3Q12 and 4Q14, Spectra Energy’s adjusted earnings per share, or EPS, increased by 74%. Adjusted EPS increased by 14.6% from 4Q13 to 4Q14.

As noted in the graph above, Spectra Energy’s adjusted EPS exceeded estimates in certain past quarters. On an adjusted basis, Spectra Energy’s 4Q14 earnings beat estimates by 46%. On average, adjusted EPS has exceeded consensus EPS by ~9% in the past ten quarters.

The 1Q15 consensus sell-side analysts’ adjusted EPS estimate for Spectra Energy is $0.417, 11% lower than the $0.47 per adjusted share it recorded in 4Q14.