Enbridge Inc (ENB) Q4 2019 Earnings Call Transcript

Enbridge Inc (ENB) Q4 2019 Earnings Call Transcript

[Operator Instructions] Following the presentation, we will conduct a question-and-answer session for the investment community.. I will now turn the call over to Jonathan Morgan, Vice President, Investor Relations.. Joining me this morning are Al Monaco, President and Chief Executive Officer; Colin Gruending, Executive Vice President and Chief Financial Officer; Vern Yu, Executive Vice President, Liquids Pipelines; and Bill Yardley, Executive Vice President, Gas Transmission and Midstream.. Colin is going to take you through the Q4 and full-year results, the balance sheet and our financial outlook.. Moving to Q4 highlights on Slide 3, operationally, Q4 came in strong capping off a record financial year and we made great progress on our priorities.. Gulf Coast strategy along by securing new projects.. On to the financial highlights with Slide 4, EBITDA came in at $13.3 billion for the year and DCF at $9.2 billion, both exceeding our full year guidance by $300 million.. Gas transmission costs were a little bit higher this year and we issued, as you recall, shares to buy in four sponsored vehicles in Q4 2018.. The additional public consultation at the Army Corps is already under way, so that's good.. The offering maximizes producer netbacks because we provide