Enbridge Surpasses Q2 EPS Estimates by 54.8%, Sets New Record for Adjusted EBITDA

Enbridge's Q2 2025 EPS jumped 55% to $0.65, surpassing estimates by 54.8%. Adjusted EBITDA reached a record $4.64 billion, compared to $4.34 billion in Q2 2024. The company reaffirmed its full-year 2025 guidance and declared a quarterly dividend for Q2 2025.

Enbridge Inc. (TSX: ENB) (NYSE: ENB) reported its second quarter 2025 financial results, highlighting a significant increase in earnings per share (EPS) and adjusted EBITDA. The company's EPS jumped 55% to $0.65, surpassing estimates by 54.8%. Adjusted EBITDA reached a record $4.64 billion, compared to $4.34 billion in Q2 2024. Enbridge reaffirmed its full-year 2025 financial guidance and declared a quarterly dividend for Q2 2025.

Key highlights from the quarter include:
- EPS Growth: Enbridge's EPS increased by $0.14 per share, primarily due to non-cash, unrealized changes in the value of derivative financial instruments used to manage risks. This was partially offset by the absence of a gain on sale from the disposition of interests in Alliance Pipeline and Aux Sable, and an impairment of rate-regulated assets in Enbridge Gas Ohio.
- Adjusted EBITDA: The company's adjusted EBITDA increased by $0.3 billion, driven by contributions from U.S. natural gas utility acquisitions, rate settlements, favorable contracting on U.S. Gas Transmission assets, colder weather, and higher distribution margins from increases in rates and customer base at Enbridge Gas Ontario. Lower volumes within the Liquid Pipelines Gulf Coast and Mid-Continent segment partially offset these gains.
- Financial Guidance: Enbridge reaffirmed its full-year 2025 financial guidance, demonstrating its confidence in the company's ability to meet its financial targets despite geopolitical and macroeconomic volatility.
- Dividend Declaration: The company declared a quarterly dividend for Q2 2025, reflecting its commitment to shareholder returns.

Enbridge's CEO, Greg Ebel, commented on the company's performance, stating, "Our all-of-the-above approach to energy investment continues to surface value for shareholders. We are capitalizing on growing power demand and strong natural gas fundamentals." Ebel also noted that Enbridge's backlog of over $30 billion across all four businesses highlights the advantage of its scale and diversification.

Looking ahead, Enbridge's strong balance sheet and $9 to $10 billion of annual investment capacity provide the flexibility to execute on its $32 billion backlog and pursue longer-term opportunities. The company remains focused on disciplined capital allocation and expects to deliver steady, dependable returns while growing through optimizing existing assets, disciplined project selection, and leveraging scale.

Enbridge's Q2 2025 results underscore the company's resilience and ability to navigate market cycles. The strong performance, combined with its strategic investments and acquisitions, positions Enbridge as a first-choice investment opportunity for investors.

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