#Canada #financial results #Calgary #Energy Sector #Enbridge Inc.

Enbridge Achieves Record Financial Results in 2024

Enbridge Inc., a major player in the North American energy sector, has announced impressive financial outcomes for the full year 2024. The company reported full-year GAAP earnings of CAD 5.1 billion or CAD 2.34 per common share, despite a slight decrease compared to the previous year. In contrast, adjusted earnings increased to CAD 6.0 billion, reflecting a notable growth.

Key Financial Metrics

The significant metrics within Enbridge's performance reveal a year marked by strategic achievements and resilience:

• - Full-year GAAP earnings: CAD 5.1 billion
• - Adjusted earnings: CAD 6.0 billion
• - EBITDA: CAD 18.6 billion, up 13% from 2023
• - Cash from operating activities: CAD 12.6 billion
• - Distributable cash flow (DCF): CAD 12.0 billion, a 6% increase from the prior year

These numbers are indicative of Enbridge’s solid operational performance and its effective capital management strategies.

Achievements and Strategic Moves

Enbridge's success in 2024 can be attributed to several strategic moves and operational milestones:

• - The company achieved its financial guidance for the 19th consecutive year, underlining the predictability and stability of its business model.
• - A record quarterly dividend increase of 3.0% was announced for 2025, marking the 30th consecutive annual increase.
• - Enbridge completed a significant CAD 19 billion acquisition of three leading U.S. gas utilities, positioning itself as one of the largest natural gas utility franchises in North America.
• - The company successfully placed CAD 5 billion of new organic projects into service in 2024 and sanctioned an additional CAD 8 billion in new projects.

Future Outlook for 2025

Looking ahead, Enbridge reaffirmed its optimistic guidance for the financial year 2025, projecting adjusted EBITDA to be between CAD 19.4 billion and CAD 20.0 billion, with DCF per share anticipated to range from CAD 5.50 to CAD 5.90. The company is set to benefit from its recent acquisitions and ongoing infrastructure projects, as well as ongoing negotiations with the Government of Alberta to explore expansion opportunities.

CEO Greg Ebel expressed confidence in the company's performance, stating, "Our low-risk business model continues to deliver predictable results and stable returns for shareholders." He also highlighted the continued demand for energy across North America and emphasized the investments in renewable energy to align with future energy needs.

Conclusion

Enbridge’s record achievements in 2024 illustrate a strong performance across its business units, driven by favorable market conditions and strategic acquisitions. As the company prepares to meet the energy demands of the future, its focus on capital discipline and operational efficiencies positions it for continued success in the coming years. Investors and stakeholders can expect Enbridge to maintain its trajectory toward sustainable growth while reinforcing its role as a leading energy provider in North America.

For more detailed financial data and future projections, Enbridge plans to host a conference call to discuss 2024 results, providing further insights into their strategic initiatives and performance metrics.