Enbridge Reports Q2 Profit Increase to $2.18 Billion

Enbridge Inc. reported a Q2 profit of $2.18 billion, up from $1.85 billion in the same quarter last year. Adjusted earnings were $1.42 billion, up from $1.25 billion, and adjusted earnings per share were 65 cents, compared to 58 cents last year. The increase was largely due to changes in the value of derivative financial instruments.

Enbridge Inc. (TSX: ENB) (NYSE: ENB) reported robust financial results for the second quarter of 2025, showcasing strong performance across its energy infrastructure businesses. The company's GAAP earnings attributable to common shareholders reached $2.18 billion, a notable increase of $0.3 billion over the same period last year. This quarterly performance was driven by a combination of factors, including changes in the value of derivative financial instruments, favorable rate settlements, and higher distribution margins in Ontario.

Adjusted earnings for the quarter stood at $1.42 billion, up from $1.25 billion in the second quarter of 2024. This increase was primarily attributed to contributions from the U.S. natural gas utility acquisitions, rate settlements, and favorable contracting on U.S. Gas Transmission assets. Additionally, colder weather and higher distribution margins in Ontario also contributed to the improved earnings.

Enbridge's adjusted earnings per share (EPS) for the second quarter of 2025 were 65 cents, a 12% increase from the 58 cents reported in the same period last year. This increase was partially offset by lower volumes within the Liquid Pipelines Gulf Coast and Mid-Continent segment.

The company's cash provided by operating activities increased to $3.2 billion, up from $2.8 billion in the second quarter of 2024. Distributable cash flow (DCF) remained consistent at $2.9 billion for both quarters.

Enbridge also announced several key projects and investments during the quarter. Notably, it sanctioned a $0.9 billion Clear Fork Solar project in Texas to support Meta's data center power needs. Additionally, the company expanded its Traverse Pipeline and Aitken Creek gas storage facility, and closed the acquisition of a 10% interest in the Matterhorn Express Pipeline. These projects are expected to contribute to the company's long-term growth and financial flexibility.

CEO Greg Ebel commented on the results, emphasizing Enbridge's "all-of-the-above approach to energy investment" and the company's ability to capitalize on growing power demand and strong natural gas fundamentals. He also highlighted the company's backlog of over $30 billion across all four businesses, positioning Enbridge as a leader in the energy infrastructure sector.

Enbridge's financial results for the second quarter of 2025 underscore the company's resilience and ability to deliver steady, dependable returns despite geopolitical and macroeconomic volatility. The company remains well-positioned to continue its growth trajectory and meet its financial guidance for the 20th consecutive year.

References:
[1] https://www.enbridge.com/media-center/news/details?id=123859&lang=en