08:13 AM EDT, 05/10/2024 (MT Newswires) -- Enbridge ( ENB ) was at last look up 1.2% in US premarket on Friday after it reported better than expected adjusted earnings for the first quarter, while reaffirming financial guidance and advancing its strategic priorities.

Enbridge ( ENB ) posted adjusted earnings of $1.96 billion, or $0.92 per share, rising from $1.73 billion, or $0.85 per share. The Capital IQ forecast was $0.81.

Adjusted EBITDA jumped to $4.95 billion from $4.47 billion. The Capital IQ forecast was nearer to $4.581 billion.

Looking ahead, the company reaffirmed its 2024 base business financial guidance for EBITDA and discounted cash flow while noting that it continues to expect strong asset utilization and operating performance during the year with normal course seasonality, including Mainline volumes of approximately 3.0 million barrels per day on average for the year.

The gas utilities acquisitions announced on September 5, 2023, are not included in the 2024 financial guidance