Enbridge Q4 EPS Beats by $0.08, Revenue Tops Forecast by $3.33 Billion
Enbridge posted Q4 2025 adjusted EPS of $0.65, beating estimates by $0.08, and revenue rose over 10% to $12.61 billion, surpassing forecasts by $3.33 billion; net profit quadrupled to C$1.95 billion from C$493 million. Enbridge reported a C$39 billion backlog with C$8 billion slated for 2026 service and maintained FY 2026 EBITDA guidance of C$20.2–20.8 billion.
1. Q4 2025 Financial Results
Enbridge recorded adjusted EPS of $0.65 for Q4 2025, surpassing consensus by $0.08, while revenue climbed over 10% year-over-year to $12.61 billion, beating forecasts by $3.33 billion. Net profit surged to C$1.95 billion, quadrupling from C$493 million in the prior year.
2. Project Backlog and Growth Initiatives
The company ended FY 2025 with a C$39 billion project backlog, of which C$8 billion is expected to enter service in 2026. Enbridge is advancing over 50 data center pipeline projects across North America, requiring up to 10 billion cubic feet per day of additional takeaway capacity, enhancing long-term volume growth.
3. FY 2026 Outlook and Dividend Policy
Enbridge maintained its FY 2026 adjusted EBITDA guidance range of C$20.2–20.8 billion, following a record C$19.95 billion in 2025. The company also extended its annual dividend for the 31st consecutive year, underscoring robust cash flow and shareholder return commitments.