Enbridge Energy Partners, L.P. (EEP) swung to a net loss for the quarter ended Sep. 30, 2016. The company has made a net loss of $382.70 million, or $ 1.31 a share in the quarter, against a net profit of $106.70 million, or $0.07 a share in the last year period. On the other hand, adjusted net income for the quarter stood at $89.30 million, or $0.09 a share compared with $137.40 million or $0.23 a share, a year ago.
Revenue during the quarter dropped 11.60 percent to $1,120.60 million from $1,267.70 million in the previous year period. Gross margin for the quarter expanded 420 basis points over the previous year period to 57.32 percent. Operating margin for the quarter stood at negative 42.74 percent as compared to a positive 20.10 percent for the previous year period.
Operating loss for the quarter was $478.90 million, compared with an operating income of $254.80 million in the previous year period.
However, the adjusted operating income for the quarter stood at $289.40 million compared to $301.70 million in the prior year period. At the same time, adjusted operating margin improved 203 basis points in the quarter to 25.83 percent from 23.80 percent in the last year period.
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