Canada's Enbridge Q1 adjusted EPS beats estimates, guidance reaffirmed

Enbridge

08/05/2026 12:08

Overview

Canada energy infrastructure firm's Q1 adjusted EPS beat analyst expectations

Q1 adjusted net income slightly beat analyst estimates

Company reaffirmed 2026 financial guidance and grew secured project backlog to C$40 bln

Outlook

Enbridge reaffirms 2026 adj EBITDA guidance of C$20.2 bln to C$20.8 bln

Company maintains 2026 DCF per share guidance of C$5.70 to C$6.10

Enbridge expects near-term avg annual growth rate of about 5% for adj EBITDA, DCF, EPS

Result Drivers

LIQUIDS PIPELINES DECLINE - Lower Mainline and Market Access System contributions, higher earnings sharing, lower tolls, and absence of prior-year litigation settlement led to reduced Liquids Pipelines adjusted EBITDA

GAS SEGMENT GROWTH - Higher adjusted EBITDA from Gas Transmission and Gas Distribution and Storage driven by favorable contracting, higher rates, and increased storage revenues

RENEWABLE POWER DECLINE - Lower adjusted EBITDA in Renewable Power Generation due to absence of prior-year investment tax credits from Fox Squirrel Solar

Company press release: ID:nPn9mGxyLa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Adjusted EPS
Beat
C$0.98
C$0.94 (11 Analysts)
Q1 EPS
C$0.77
Q1 Adjusted Net Income
Slight Beat*
C$2.13 bln
C$2.12 bln (5 Analysts)
Q1 Adjusted EBITDA
C$5.81 bln


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 9 "strong buy" or "buy", 14 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the oil & gas transportation services peer group is "buy."

Wall Street's median 12-month price target for Enbridge Inc is C$75.50, about 2.4% above its May 7 closing price of C$73.72

The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 22 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)