Enbridge Energy Partners Lp (EEP) has reported 240.98 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $104 million, or $0.08 a share in the quarter, compared with $30.50 million, or $0.14 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $103.70 million, or $0.14 a share compared with $96.90 million or $0.11 a share, a year ago.
Revenue during the quarter grew 10.04 percent to $1,250.80 million from $1,136.70 million in the previous year period. Gross margin for the quarter contracted 832 basis points over the previous year period to 50.54 percent. Total expenses were 77.83 percent of quarterly revenues, down from 82.69 percent for the same period last year. This has led to an improvement of 486 basis points in operating margin to 22.17 percent.
Operating income for the quarter was $277.30 million, compared with $196.80 million in the previous year period.
However, the adjusted operating income for the quarter stood at $303.90 million compared to $284.20 million in the prior year period. At the same time, adjusted operating margin contracted 71 basis points in the quarter to 24.30 percent from 25 percent in the last year period.
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