Earnings Releases·Nov 6, 2026, 7:01 AM ET

Enbridge — Q3 2026 Earnings Summary

Q3 2026 GAAP earnings reached $1.3 billion ($0.59/share), up from $0.7 billion ($0.30/share) in Q3 2025, while adjusted earnings rose to $1.1 billion ($0.49/share) from $1.0 billion ($0.46/share); Liquids Pipelines EBITDA declined $101 million to $2.2 billion, whereas Gas Transmission and Gas Distribution EBITDA increased by $165 million and $105 million respectively.
Management reaffirmed 2026 full-year adjusted EBITDA guidance of $20.2–$20.8 billion and DCF per share guidance of $5.70–$6.10, maintaining a medium-term compound annual growth rate target of approximately 5% with a secured growth backlog of $38 billion.
Strategic capital deployment included the closed $0.6 billion acquisition of Salt Creek Midstream and the announced $2.6 billion acquisition of Tallgrass Energy LP's crude oil business, funded partially by a $3.0 billion common equity offering.
CEO Greg Ebel announced his retirement in January 2027, with Michele Harradence named as successor, while the company declared a quarterly dividend of $0.9700 per share and secured a $2 billion commitment from KKR and Apollo for Westcoast B.C. Pipeline expansions.