Enbridge Inc. (NYSE: ENB) Exceeds Earnings Estimates for the First Quarter of 2025, Reaffirms Full-Year Guidance

Enbridge Inc. (NYSE: ENB) has reported impressive financial results for the first quarter of 2025, surpassing expectations and reaffirming its financial guidance for the year.

Energy company Enbridge (NYSE:ENB) reported strong first-quarter 2025 earnings on Friday, beating analysts’ expectations and reaffirming its financial guidance for the year. The company also discussed several key projects and investments that are positioning it for sustained growth and stability in the coming quarters.

What Happened

* Enbridge reported first-quarter GAAP earnings of $2.3 billion, or $1.04 per common share, up from $1.4 billion, or $0.67 per share, a year ago. Adjusted earnings for the quarter were $2.2 billion, or $1.03 per share, compared to $2.0 billion, or $0.92 per share, in 1Q2024.

* The company’s adjusted EBITDA for the quarter came in at $5.8 billion, showing an 18% increase from $5.0 billion in 1Q2024. This growth was driven by higher Mainline throughput, favorable contracting on U.S. Gas Transmission assets, and contributions from recent U.S. gas utility acquisitions.

* Cash provided by operating activities was $3.1 billion, slightly down from $3.2 billion in 2024, while distributable cash flow increased by 9% to $3.8 billion.

* When compared to the average estimates of analysts tracked by , Enbridge exceeded the anticipated EPS of $0.68 and revenue of $9.52 billion. The company’s strong performance is a testament to its strategic focus on optimizing its asset base and capitalizing on growth opportunities in its core segments.

* Enbridge also reaffirmed its financial guidance for the full year 2025, projecting adjusted EBITDA between $19.4 billion and $20.0 billion, and distributable cash flow per share between $5.50 and $5.90. The company further maintains its multi-year financial outlook, anticipating near-term growth rates of 7-9% for adjusted EBITDA, 4-6% for adjusted EPS, and approximately 3% for distributable cash flow per share through 2026.

Key Projects and Investments

In addition to reporting strong financial results, Enbridge provided updates on several key projects and investments that are poised to drive the company’s growth in the coming quarters. These initiatives highlight Enbridge’s commitment to expanding its asset base, entering new markets, and capitalizing on emerging energy trends.

* Capital Plans and Priorities: Enbridge is planning to sanction up to $2.0 billion of Mainline capital investment through 2028. These investments will be focused on maximizing throughput and reliability. The company also has the capacity to invest an additional $1.0 billion per year in expanding its U.S. Gas Utility footprint.

* 10% Stake in Matterhorn Express: Enbridge has announced the acquisition of a 10% equity interest in the Matterhorn Express Pipeline from units of Midpoint Energy LLC. The Matterhorn Express Pipeline is a 1,067-mile, 42-inch diameter pipeline that transports natural gas from the San Juan Basin in New Mexico to the Gulf Coast.

* Traverse Pipeline Construction Commences: Construction has begun on the Traverse Pipeline, a 140-mile, 36-inch diameter pipeline that will transport natural gas from the Marcellus Shale to the Canadian markets. The pipeline is expected to be completed in 2026.

* Acquisition of U.S. Gas Utility Assets: Earlier this year, Enbridge completed the acquisition of seven U.S. gas utility properties from Dominion Energy for $3.3 billion. These acquisitions expand Enbridge’s presence in key U.S. markets and contribute to the company’s goal of becoming a leading provider of low-carbon energy solutions.

Enbridge’s strong financial performance, strategic capital allocation plans, and commitment to expanding its asset base position the company for sustained growth and stability in the coming quarters. As Enbridge continues to execute its strategy and adapt to the evolving energy landscape, the company is well-placed to deliver value to its investors and stakeholders over the long term.