(Reuters) - Enbridge Inc
The company expects full-year earnings of C$2.30 to C$2.36 a share, an increase of more than 20 percent over last year. It had previously expected C$2.18 to C$2.32 per share.
Despite the recession, the company is in the midst of a C$12 billion expansion program in order to ship more oil sands crude to the United States as it looks to boost its earnings by 20 percent or more a year.
For the third quarter, adjusted profit rose to 42 Canadian cents a share from 24 Canadian cents a year ago.
The adjusted result beat the average analyst profit estimate of 38 Canadian cents per share, according to Thomson Reuters I/B/E/S.
The company, whose pipelines carry the lion's share of Canada's oil exports to the United States, said net income climbed to C$303.8 million, or 83 Canadian cents per share, from C$148.4 million, or 41 Canadian cents, a year ago.
Revenue fell 40 percent to C$2.63 billion.
Enbridge shares closed at C$41.95 on Tuesday on the Toronto Stock Exchange.
($1=1.066 Canadian Dollar)
(Reporting by R. Manikandan in Bangalore; Editing by Deepak Kannan)
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