) jumped after it raised its full-year forecast for core profit, citing a stronger-than-anticipated demand environment and lower-than-expected fuel costs.
The carrier said it expects its 2023 capacity to increase by about 23 per cent from a year earlier to hit 90 per cent of pre-pandemic levels, but down from 24-per-cent forecast earlier.) was higher in the wake of reporting a rise in first-quarter adjusted profit on higher delivery volumes of oil and gas amid sustained fuel demand.
Enbridge’s Mainline system, which ships the bulk of Canadian crude to the United States, transported 3.1 million barrels per day in the first quarter, compared with 3.0 million bpd a year earlier. First-quarter results were in line with expectations, despite extreme volatility in financial and commodity markets, partly benefiting from high utilization across our systems and record volumes on the Mainline, CEO Greg Ebel said.
Automakers are also revving up production to meet a strong order backlog and get enough vehicles to dealers on time On an adjusted basis, the company reported earnings per share of US$1.11 for the first quarter, beating analysts’ average estimate of 83 US cents .
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