Particle.news
Download on the App Store
3 ARTICLES
·
2mo ago

Enbridge Posts Record Q2 EBITDA on Pipeline Flows and Gas Demand

Reiterating annual EBITDA guidance at the upper end of its range underscores momentum in advancing solar and gas storage projects.

Image
The Enbridge logo is shown at the company's annual meeting in Calgary on May 9, 2018. THE CANADIAN PRESS/Jeff McIntosh

Overview

  • Enbridge’s adjusted EBITDA rose 7% year-on-year to US$3.36 billion in Q2, driven by robust liquids flows on its Mainline pipeline.
  • Adjusted earnings climbed to US$1.01 billion, or US$0.47 per share, topping the C$0.57 analysts’ estimate.
  • CEO Greg Ebel said he expects to finish 2025 at the upper end of the company’s EBITDA guidance range following sustained power generation and LNG feedgas demand.
  • The company approved the 600-MW Clear Fork solar project in Texas to support Meta’s data centre and is expanding British Columbia’s Aitken Creek underground gas storage facility for LNG customers.
  • Ebel noted government policy remains unclear on new energy infrastructure, citing oilsands emissions caps and a West Coast tanker ban as investment barriers that are redirecting demand to U.S. markets.