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Jun 30
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Enbridge Q2 2025 Earnings Report
Enbridge reported strong earnings driven by record adjusted EBITDA and contributions from its gas transmission and utility segments.
Key Takeaways
Enbridge delivered solid Q2 2025 results with adjusted EBITDA reaching C$4.644 billion and net income at C$2.2 billion, primarily due to strong gas transmission and gas distribution performance.
Adjusted EBITDA reached a record C$4.644 billion for the quarter.
Net income attributable to common shareholders was C$2.2 billion.
Gas Transmission and Gas Distribution segments showed strong year-over-year growth.
Enbridge reaffirmed its 2025 full-year financial guidance.
Enbridge
Enbridge
Enbridge Revenue by Segment
Enbridge Revenue by Geographic Location
Revenue by Segment
Liquids Pipelines Revenue
CapyFin.comGas Transmission Revenue
CapyFin.comRevenue by Geographic Location
Canada Revenue
CapyFin.comUnited States Revenue
CapyFin.com Forward Guidance
Enbridge reaffirmed its full-year 2025 financial guidance, supported by consistent performance and growth from its utility and pipeline businesses.
Positive Outlook
- Stable contributions from long-term contracted assets.
- Strong performance in U.S. Gas Transmission.
- Positive momentum from Gas Utility acquisitions.
- Improved weather-adjusted gas demand.
- Balance sheet remains strong with disciplined capital allocation.
Challenges Ahead
- Lower EBITDA in renewables due to resource availability.
- Minor decline in liquids pipeline earnings.
- Foreign exchange fluctuations impact reported results.
- Higher interest expenses compared to prior year.
- Some one-time items reduced distributable cash flow.