Enbridge Books Q4 Loss Due To Goodwill Impairment Charge ...Middle East

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Enbridge Books Q4 Loss Due To Goodwill Impairment Charge
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Canada's pipeline operator Enbridge (NYSE: ENB) reported on Friday a loss for the fourth quarter of 2022, compared to a profit for the same period of 2021, due to a non-cash goodwill impairment of US$1.86 billion (C$2.5 billion) in its gas transmission reporting unit. Enbridge, which moves large volumes of oil and gas in North America –including on the Mainline transportation system which moves more than 50% of all Canadian crude oil exports – booked a loss of US$794 million (C$1.067 billion) for the fourth quarter of 2022, versus earnings…

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