#Canada #Calgary #Enbridge Inc. #Southern Illinois Connector #Algonquin Gas

Enbridge Inc. Reports Strong Third Quarter Results

Enbridge Inc., a major North American energy infrastructure company, has unveiled its third quarter financial results for 2025, showcasing resilience and optimistic projections for the future. The company reported a GAAP earnings of $0.7 billion, equating to $0.30 per share, a decrease from $1.3 billion or $0.59 per share in the same quarter last year. Despite this, adjusted earnings remained relatively steady at $1.0 billion, or $0.46 per common share compared to $1.2 billion or $0.55 per share in 2024.

Financial Highlights

The third quarter's adjusted EBITDA reached $4.3 billion, a slight increase from $4.2 billion in the previous year, while cash from operating activities stood at $2.9 billion, closely mirroring the $3.0 billion from 2024. Distributable cash flow (DCF) maintained at $2.6 billion, showcasing stability.

The results underline Enbridge’s unwavering commitment to delivering energy solutions while navigating market fluctuations. Despite challenges, the management is optimistic about the company’s ability to meet its financial guidance for the 20th consecutive year. CEO Greg Ebel emphasized the robust energy demand throughout North America, noting Enbridge's uniquely positioned infrastructure that supports the distribution of gas, liquids, and renewable power to a growing customer base.

Continued Investment in Infrastructure

During the quarter, Enbridge announced its backing of $3 billion worth of strategic projects designed to enhance energy distribution capabilities. Key highlights include:

• - A sanction on the Southern Illinois Connector project linking Wood River to Patoka, Illinois, aimed at delivering 100 kbpd of contracted service to Nederland, Texas.
• - Expansion initiatives on the Canyon System Pipeline to accommodate BP's Tiber Offshore development, and the enhancement of natural gas storage facilities at Egan and Moss Bluff, bolstering the provision for increasing energy demands in the U.S. Gulf Coast.
• - Development of the Algonquin Gas Transmission enhancement, set to boost reliability and lower energy costs for customers in the Northeast.

Moreover, Enbridge sanctioned the Eiger Express Pipeline to facilitate substantial natural gas takeaway from the Permian Basin, which will contribute to the U.S. Gulf Coast's LNG market. This proactive approach reflects the company’s strategy to leverage existing capacities and strategically expand where demand is climbing.

Solid Foundation for Future Growth

Enbridge's effective management of resources is evident in its projection of adjusted EBITDA growth between $19.4 billion and $20.0 billion for the year 2025. With a forecast of 7-9% near-term growth for adjusted EBITDA, and a long-term outlook for approximately 5% annually post-2026, the company is poised for a sustained upward trend.

The successful execution of its projects has expanded the secured growth project backlog to approximately $35 billion, reinforcing Enbridge's position as a leader in energy infrastructure.

Focused on Renewable Energy

In a noteworthy response to evolving energy demands, Enbridge is also significantly investing in renewable projects, expecting to bring over 1.4 GW of solar projects online through 2027. This is in line with the company’s strategy to diversify its energy portfolio and align with the global shift towards cleaner energy.

Enbridge is nurturing partnerships with technology giants like Meta and Amazon, aiming to cater to their growing energy needs while navigating the complexities of the policy landscape affecting renewable tax credits.

Conclusion

In conclusion, the third quarter of 2025 marked a pivotal moment for Enbridge Inc., showcasing significant achievements against the backdrop of challenging market conditions. With a dedicated focus on strategic investment and growth, Enbridge is well-positioned to tackle future challenges while supporting energy demand across North America and beyond. The company remains committed to delivering value to its shareholders through disciplined capital allocation and a robust dividend policy. As the energy landscape continues to evolve, Enbridge is poised to lead with innovation and resilience.