Enbridge 3Q Profit Rises on Derivative Gains
By Adriano Marchese
Enbridge reported higher third-quarter profit, supported by steady distributable cash flow growth and noncash gains on financial hedging contracts.
The energy-infrastructure company posted on Friday a rise in net income to 1.29 billion Canadian dollars (US$920.1 million), or C$0.59 a share, up from C$682 million, or C$0.30 a share, in the comparable quarter a year earlier.
Enbridge noted that the increase was largely due to noncash, unrealized gains in the fair value of derivative instruments used to hedge foreign exchange, interest rates and commodity prices.
Adjusted earnings, which exclude one-off items and exceptional costs, totaled C$0.49 a share, coming in above the C$0.48 a share expected by analysts, according to a poll on FactSet.
Distributable cash flow, a key metric that tracks cash available to pay dividends, rose to C$2.69 billion from C$2.57 billion last year.
Enbridge reiterated its 2026 targets for adjusted earnings before interest, taxes, depreciation and amortization of between C$20.2 billion and C$20.8 billion, with distributable cash flow per share expected at between C$5.70 and C$6.10.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
November 06, 2026 08:03 ET (13:03 GMT)
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