Enbridge reports $1.1B Q4 loss as it takes $2.5B goodwill impairment charge
reported a loss of $1.1 billion in its latest quarter as it took a $2.5-billion non-cash goodwill impairment charge related to its gas transmission business as a result of what it said was the increased cost of capital.
The pipeline company says the loss amounted to 53 cents per share for the quarter ended Dec. 31 compared with a profit of $1.8 billion or 91 cents per share in the last three months of 2021. On an adjusted basis, Enbridge says it earned 63 cents per share in its latest quarter, down from 68 cents per share a year earlier.
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