Enbridge Reports Record Quarterly Results and Reaffirms 2025 Financial Guidance, Illustrating Its Industry Leading, Resilient Business Model

Highlights
(All financial figures are unaudited and in Canadian dollars unless otherwise noted. * identifies non-GAAP financial measures. Please refer to Non-GAAP Reconciliations Appendices.)

• First quarter GAAP earnings of $2.3 billion or $1.04 per common share, compared with GAAP earnings of $1.4 billion or $0.67 per common share in 2024
• Adjusted earnings* of $2.2 billion or $1.03 per common share*, compared with $2.0 billion or $0.92 per common share in 2024
• Adjusted earnings before interest, income taxes and depreciation and amortization (EBITDA)* of $5.8 billion, an increase of 18%, compared with $5.0 billion in 2024
• Cash provided by operating activities of $3.1 billion, compared with $3.2 billion in 2024
• Distributable cash flow (DCF)* of $3.8 billion, an increase of 9%, compared with $3.5 billion in 2024
• Reaffirmed 2025 full year financial guidance and multi-year financial outlook
• Sanctioned up to $2.0 billion of Mainline capital investment through 2028 to further reliability and maximize existing throughput given continuing demands on the system
• Launched a binding open season on Flanagan South Pipeline (FSP) supporting Mainline Optimization Phase 1 which adds 150 kbpd of capacity
• Announced definitive agreement to acquire a 10% equity interest in the operating Matterhorn Express Pipeline (MXP), a 2.5 bcf/d natural gas pipeline connecting growing Permian supply to Katy, Texas, for US$0.3 billion of cash consideration
• Sanctioned construction of the Traverse Pipeline alongside Whitewater Midstream (Whitewater), MPLX LP (MPLX), and Targa Resources (Targa) to provide natural gas transportation service between Katy and Agua Dulce in the U.S. Gulf Coast
• Sanctioned the $0.4 billion Birch Grove expansion of T-North Pipeline in British Columbia to serve growing egress needs out of the Montney basin
• Sanctioned a US$0.1 billion expansion of the T15 project at Enbridge Gas North Carolina, doubling capacity of the original natural gas generation related project

https://www.newswire.ca/news-releases/enbridge-reports-record-quarterly-results-and-reaffirms-2025-financial-guidance-illustrating-its-industry-leading-resilient-business-model-838461499.html