Enbridge Inc. reported lower first-quarter 2026 earnings despite higher revenue. Total operating revenues rose to $22.4 billion from $18.5 billion, driven mainly by stronger commodity and gas distribution sales. However, earnings attributable to common shareholders fell to $1.67 billion, or $0.77 per share, versus $2.26 billion, or $1.04 per share, a year earlier.
The decline was largely tied to a sizeable non-cash unrealized derivative fair value loss, which reduced reported results under Enbridge’s hedging program. EBITDA decreased to $5.0 billion from $5.9 billion, with weaker Liquids Pipelines and Renewable Power more than offsetting improvements in Gas Transmission and Gas Distribution and Storage. Operating cash flow was $2.34 billion, down from $3.05 billion, while capital expenditures increased to $2.49 billion as Enbridge advanced its growth projects. The company also issued $2.0 billion in Canadian medium-term notes and US$2.0 billion in senior notes, supporting liquidity and funding needs, and declared a quarterly common dividend of $0.97 per share.
Enbridge Inc. reported lower first-quarter 2026 earnings despite higher revenue. Total operating revenues rose to $22.4 billion from $18.5 billion, driven mainly by stronger commodity and gas distribution sales. However, earnings attributable to common shareholders fell to $1.67 billion, or $0.77 per share, versus $2.26 billion, or $1.04 per share, a year earlier.
The decline was largely tied to a sizeable non-cash unrealized derivative fair value loss, which reduced reported results under Enbridge’s hedging program. EBITDA decreased to $5.0 billion from $5.9 billion, with weaker Liquids Pipelines and Renewable Power more than offsetting improvements in Gas Transmission and Gas Distribution and Storage. Operating cash flow was $2.34 billion, down from $3.05 billion, while capital expenditures increased to $2.49 billion as Enbridge advanced its growth projects. The company also issued $2.0 billion in Canadian medium-term notes and US$2.0 billion in senior notes, supporting liquidity and funding needs, and declared a quarterly common dividend of $0.97 per share.
Enbridge Inc. reported mixed but resilient first quarter 2026 results while reaffirming its full-year outlook. GAAP earnings attributable to common shareholders were $1.7 billion, or $0.77 per share, down from $2.3 billion or $1.04 per share in 2025, mainly due to non‑cash unrealized derivative impacts and prior‑year one‑time items.
Underlying performance was largely steady. Adjusted EBITDA was $5.8 billion, essentially in line with 2025, and adjusted earnings were $2.1 billion, or $0.98 per share, slightly below $2.2 billion or $1.03 per share a year earlier. Distributable cash flow rose to $3.9 billion from $3.8 billion, helped by higher gas transmission and gas distribution contributions and tax depreciation.
Growth and balance sheet metrics remain central to the story. Enbridge reaffirmed 2026 guidance for adjusted EBITDA of $20.2–$20.8 billion and DCF per share of $5.70–$6.10, and maintained a near‑term ~5% annual growth outlook post‑2026. The secured capital backlog increased to about $40 billion, including new sanctioned projects such as the US$0.7 billion Cone wind project for Meta, the US$0.4 billion Tres Palacios gas storage expansion, a US$0.1 billion Vector Pipeline expansion, and an 8 Bcf Dawn Hub storage expansion in Ontario.
Funding and dividends reflect a continued income‑focused profile. The company issued $2 billion of Canadian dollar notes and US$2 billion of U.S. dollar notes, using proceeds to refinance debt and fund capital spending. Its rolling 12‑month Debt‑to‑EBITDA ratio stood at 5.0x, within the 4.5–5.0x target range. The board declared a quarterly common share dividend of $0.97, alongside dividends on multiple series of preferred shares, supporting Enbridge’s stated commitment to dividend growth.
Enbridge Inc. reported mixed but resilient first quarter 2026 results while reaffirming its full-year outlook. GAAP earnings attributable to common shareholders were $1.7 billion, or $0.77 per share, down from $2.3 billion or $1.04 per share in 2025, mainly due to non‑cash unrealized derivative impacts and prior‑year one‑time items.
Underlying performance was largely steady. Adjusted EBITDA was $5.8 billion, essentially in line with 2025, and adjusted earnings were $2.1 billion, or $0.98 per share, slightly below $2.2 billion or $1.03 per share a year earlier. Distributable cash flow rose to $3.9 billion from $3.8 billion, helped by higher gas transmission and gas distribution contributions and tax depreciation.
Growth and balance sheet metrics remain central to the story. Enbridge reaffirmed 2026 guidance for adjusted EBITDA of $20.2–$20.8 billion and DCF per share of $5.70–$6.10, and maintained a near‑term ~5% annual growth outlook post‑2026. The secured capital backlog increased to about $40 billion, including new sanctioned projects such as the US$0.7 billion Cone wind project for Meta, the US$0.4 billion Tres Palacios gas storage expansion, a US$0.1 billion Vector Pipeline expansion, and an 8 Bcf Dawn Hub storage expansion in Ontario.
Funding and dividends reflect a continued income‑focused profile. The company issued $2 billion of Canadian dollar notes and US$2 billion of U.S. dollar notes, using proceeds to refinance debt and fund capital spending. Its rolling 12‑month Debt‑to‑EBITDA ratio stood at 5.0x, within the 4.5–5.0x target range. The board declared a quarterly common share dividend of $0.97, alongside dividends on multiple series of preferred shares, supporting Enbridge’s stated commitment to dividend growth.
Enbridge Inc. reported that shareholders at the 2026 annual meeting approved amendments to its shareholder rights plan with 95.82% of votes cast in favor. The plan is designed to address take-over bids by making rights exercisable if any holder and related parties reach 20% or more of outstanding common shares without required approvals. If triggered, each other rights holder may buy additional common shares at a 50% discount to market price. Shareholders also elected 12 directors, with support for each nominee generally between about 95% and 99%, and reappointed PricewaterhouseCoopers LLP as independent auditors with 91.89% of votes for. A non-binding advisory vote on Enbridge’s approach to executive compensation received 95.58% support.
Enbridge Inc. reported that shareholders at the 2026 annual meeting approved amendments to its shareholder rights plan with 95.82% of votes cast in favor. The plan is designed to address take-over bids by making rights exercisable if any holder and related parties reach 20% or more of outstanding common shares without required approvals. If triggered, each other rights holder may buy additional common shares at a 50% discount to market price. Shareholders also elected 12 directors, with support for each nominee generally between about 95% and 99%, and reappointed PricewaterhouseCoopers LLP as independent auditors with 91.89% of votes for. A non-binding advisory vote on Enbridge’s approach to executive compensation received 95.58% support.
Enbridge Inc. reporting person Picton Mahoney Asset Management amended its Schedule 13G/A to show beneficial ownership of 2,800,013 preferred shares, equal to 2.41% of the class. The filing states 16,000,000 Preferred shares outstanding as of 03/31/2026.
Enbridge Inc. reporting person Picton Mahoney Asset Management amended its Schedule 13G/A to show beneficial ownership of 2,800,013 preferred shares, equal to 2.41% of the class. The filing states 16,000,000 Preferred shares outstanding as of 03/31/2026.
Enbridge Inc. has completed an offering of US$1,000,000,000 aggregate principal amount of 4.850% Senior Notes due 2031 and US$1,000,000,000 aggregate principal amount of 5.450% Senior Notes due 2036. These Notes are fully and unconditionally guaranteed by Enbridge Energy Partners, L.P. and Spectra Energy Partners, LP, both indirect wholly owned subsidiaries.
The Notes were issued under Enbridge’s effective shelf Registration Statement on Form S-3 filed on August 1, 2025. The company also put in place an underwriting agreement, officer’s certificate, global note forms, and legal opinions from U.S. and Canadian counsel to support the validity of the Notes and guarantees.
Enbridge Inc. has completed an offering of US$1,000,000,000 aggregate principal amount of 4.850% Senior Notes due 2031 and US$1,000,000,000 aggregate principal amount of 5.450% Senior Notes due 2036. These Notes are fully and unconditionally guaranteed by Enbridge Energy Partners, L.P. and Spectra Energy Partners, LP, both indirect wholly owned subsidiaries.
The Notes were issued under Enbridge’s effective shelf Registration Statement on Form S-3 filed on August 1, 2025. The company also put in place an underwriting agreement, officer’s certificate, global note forms, and legal opinions from U.S. and Canadian counsel to support the validity of the Notes and guarantees.
Enbridge Inc. is offering two series of U.S. dollar-denominated senior unsecured notes due in 2031 and 2036, each fully and unconditionally guaranteed by Enbridge Energy Partners, L.P. and Spectra Energy Partners, LP.
The notes will be direct, unsecured and unsubordinated obligations, not listed on any exchange, payable in U.S. dollars and may be redeemed at Enbridge’s option (including for certain Canadian tax changes).
Enbridge Inc. is offering two series of U.S. dollar-denominated senior unsecured notes due in 2031 and 2036, each fully and unconditionally guaranteed by Enbridge Energy Partners, L.P. and Spectra Energy Partners, LP.
The notes will be direct, unsecured and unsubordinated obligations, not listed on any exchange, payable in U.S. dollars and may be redeemed at Enbridge’s option (including for certain Canadian tax changes).
Enbridge Inc. has begun mailing its Notice of 2026 Annual Meeting and related voting materials using a notice-and-access approach, directing shareholders to the Management Information Circular and 2025 Annual Report online.
The 2026 annual meeting will be held virtually on May 6, 2026 at 1:30 p.m. Mountain Time via live audio webcast. Shareholders will vote on electing 12 directors, appointing PricewaterhouseCoopers LLP as auditors, an advisory say-on-pay resolution, and amending, reconfirming and approving Enbridge’s shareholder rights plan. Registered and beneficial owners can vote in advance by internet, telephone or mail, or online at the meeting, with most advance voting instructions due by May 4, 2026 at 1:30 p.m. Mountain Time.
Enbridge Inc. has begun mailing its Notice of 2026 Annual Meeting and related voting materials using a notice-and-access approach, directing shareholders to the Management Information Circular and 2025 Annual Report online.
The 2026 annual meeting will be held virtually on May 6, 2026 at 1:30 p.m. Mountain Time via live audio webcast. Shareholders will vote on electing 12 directors, appointing PricewaterhouseCoopers LLP as auditors, an advisory say-on-pay resolution, and amending, reconfirming and approving Enbridge’s shareholder rights plan. Registered and beneficial owners can vote in advance by internet, telephone or mail, or online at the meeting, with most advance voting instructions due by May 4, 2026 at 1:30 p.m. Mountain Time.
Enbridge Inc. files its 2025 annual report, outlining a diversified North American energy infrastructure business spanning liquids pipelines, gas transmission, gas distribution and storage, and renewable power generation.
The company highlights a $39 billion secured capital program through 2033, focused on low-risk, regulated or contracted projects across its systems. Enbridge reports an aggregate market value of common shares held by non‑affiliates of approximately US$98.8 billion as of June 30, 2025, and 2,181,830,165 common shares outstanding as of February 6, 2026.
Management emphasizes stable, utility-like cash flows, 31 years of consecutive dividend increases, growth in US gas utilities and LNG-linked gas transmission, and about 4,100 MW of net renewable generation capacity, mostly backed by long-term contracts and power purchase agreements.
Enbridge Inc. files its 2025 annual report, outlining a diversified North American energy infrastructure business spanning liquids pipelines, gas transmission, gas distribution and storage, and renewable power generation.
The company highlights a $39 billion secured capital program through 2033, focused on low-risk, regulated or contracted projects across its systems. Enbridge reports an aggregate market value of common shares held by non‑affiliates of approximately US$98.8 billion as of June 30, 2025, and 2,181,830,165 common shares outstanding as of February 6, 2026.
Management emphasizes stable, utility-like cash flows, 31 years of consecutive dividend increases, growth in US gas utilities and LNG-linked gas transmission, and about 4,100 MW of net renewable generation capacity, mostly backed by long-term contracts and power purchase agreements.
Enbridge Inc. reported record 2025 results, with GAAP earnings attributable to common shareholders of $7.1 billion (up from $5.1 billion in 2024) or $3.23 per share. Adjusted earnings were $6.6 billion or $3.02 per share, and adjusted EBITDA rose 7% to $20.0 billion.
Distributable cash flow reached $12.5 billion, up 4% from $12.0 billion, while cash from operations was $12.3 billion. The company exited 2025 with Debt‑to‑EBITDA of 4.8x, within its 4.5–5.0x target range, supporting a sizeable capital program.
Enbridge sanctioned about $14 billion of new organic projects and placed roughly $5 billion into service, growing its secured capital backlog to $39 billion. It reaffirmed 2026 guidance for adjusted EBITDA of $20.2–$20.8 billion and DCF per share of $5.70–$6.10, and increased the 2026 annualized common dividend 3% to $3.88, marking the 31st consecutive annual raise.
Enbridge Inc. reported record 2025 results, with GAAP earnings attributable to common shareholders of $7.1 billion (up from $5.1 billion in 2024) or $3.23 per share. Adjusted earnings were $6.6 billion or $3.02 per share, and adjusted EBITDA rose 7% to $20.0 billion.
Distributable cash flow reached $12.5 billion, up 4% from $12.0 billion, while cash from operations was $12.3 billion. The company exited 2025 with Debt‑to‑EBITDA of 4.8x, within its 4.5–5.0x target range, supporting a sizeable capital program.
Enbridge sanctioned about $14 billion of new organic projects and placed roughly $5 billion into service, growing its secured capital backlog to $39 billion. It reaffirmed 2026 guidance for adjusted EBITDA of $20.2–$20.8 billion and DCF per share of $5.70–$6.10, and increased the 2026 annualized common dividend 3% to $3.88, marking the 31st consecutive annual raise.