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Spectra Energy Corp Reports Operating Results (10-Q)

May 09, 2012 | About:

Spectra Energy Corp (NYSE:SE) filed Quarterly Report for the period ended 2012-03-31.

Spectra Energy has a market cap of $19.9 billion; its shares were traded at around $29.81 with a P/E ratio of 17.1 and P/S ratio of 3.7. The dividend yield of Spectra Energy stocks is 3.7%. Spectra Energy had an annual average earning growth of 6.3% over the past 5 years.

Highlight of Business Operations:

Income Tax Expense from Continuing Operations. The $2 million decrease was a result of lower earnings from continuing operations and a lower Canadian effective tax rate, substantially offset by favorable tax adjustments in the first quarter of 2011. The effective tax rate for income from continuing operations was 28% in the first quarter of 2012 compared to 27% in the first quarter of 2011.

Net cash provided by operating activities decreased $176 million to $546 million for the three months ended March 31, 2012 compared to the same period in 2011, driven mainly by working capital changes, including lower accounts payable and higher tax payments in 2012, and lower earnings in 2012.

Net cash used in investing activities increased $70 million to $402 million in the first three months of 2012 compared to the same period in 2011. This change was driven by net sales of Spectra Energy Partners AFS marketable securities in 2011 and payment in 2012 of $30 million previously withheld from the purchase price consideration of the acquisition of Bobcat in 2010.

Read the The complete Report

About the author:

Charlie Tian, Ph.D. - Founder of GuruFocus. You can now order his book Invest Like a Guru on Amazon.

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