07:32 AM EDT, 11/01/2024 (MT Newswires) -- Enbridge ( ENB ) said Friday that its adjusted earnings fell while adjusted Ebitda increased in the third quarter.

Adjusted earnings fell to $1.19 billion, or $0.55 per share, from $1.27 billion, or $0.62 per share. S&P Capital IQ forecast Enbridge's ( ENB ) adjusted EPS at $0.56.

Enbridge ( ENB ) said the lower adjusted earnings were driven by higher debt principal and rates due to the acquisition of Enbridge Gas Ohio and Enbridge Gas Utah, as well as higher depreciation expense from assets acquired and placed into service last year.

Adjusted Ebitda rose to $4.20 billion from $3.87 billion due to higher revenue on the Mainline system from higher tolls, higher contributions from U.S. Gulf Coast natural gas storage assets, and contributions from recently acquired assets.

"We remain committed to disciplined investment, maintaining a strong balance sheet and growing our dividend," President and CEO Greg Ebel said.

The company reaffirmed its 2024 full year financial guidance. It expects to hit near the top end of its Ebitda guidance range of $17.7 billion to $18.3 billion, and around the midpoint for discounted cash flow per share.

Enbridge ( ENB ) was up 0.2% at last look in NYSE pre-market trading to US$40.48.