Sep 2025 (Q3 FY25) — Nov 7, 2025
Enbridge Q3 FY25 — record mainline volumes and $3B of new secured growth capital
Read the full callEnbridge (ENB) earnings
- Jun 2026
- Sep 2025 (Q3 FY25)
- Dec 2025
Enbridge earnings: last reported Fri, 7 Nov 2025, for the quarter ended Sep 2025.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 29,318 | +97.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 9.9 | −5.5 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 1,501 | −34.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Price
$47.12 −2.04% · −$0.98
Performance +0.1% 1Y
1Y: $47.08 on 17 Oct 2025 → $47.12. High $58.04 (22 May 2026), low $45.23 (7 Jan 2026).
- Previous close
- $48.1
- 52-week range
- $45.23 – $58.04
- One year
- −0.19%
Overview
- Symbol
- ENB
- Sector
- Energy
- Exchange
- US
- Currency
- USD
Call summaries
Jun 2025 (Q2 FY25) — Aug 1, 2025
Enbridge Q2 FY25 — Record EBITDA and Strong Growth Outlook Driven by Utility Acquisitions and Data Center Demand
Read the full callEvery analysed call
Enbridge earnings calls (ENB)
Financials
What the filings say
Net profit, year on year: −34% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 14,882 | 16,217 | 18,502 | 14,876 | 14,639 | 17,177 | 22,357 | 29,318 |
| Expenses | 12,664 | 13,770 | 14,830 | 12,587 | 12,368 | 14,451 | 19,132 | 26,408 |
| Operating profit | 2,218 | 2,447 | 3,672 | 2,289 | 2,271 | 2,726 | 3,225 | 2,910 |
| Operating margin | 14.9% | 15.1% | 19.9% | 15.4% | 15.5% | 15.9% | 14.4% | 9.9% |
| Interest | 1,314 | 1,118 | 1,334 | 1,181 | 1,262 | 1,246 | 1,222 | 1,395 |
| Profit before tax | 1,759 | 849 | 3,187 | 2,987 | 1,163 | 2,456 | 2,365 | 2,012 |
| Tax rate | 17.7% | 27.2% | 21.9% | 22.3% | 27.2% | 13.2% | 24.8% | 22.0% |
| Net profit | 1,391 | 595 | 2,364 | 2,279 | 788 | 2,060 | 1,778 | 1,501 |
| EPS ($ per share) | 0.59 | 0.23 | 1.04 | 1 | 0.30 | 0.89 | 0.77 | 0.64 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 47,456 | 49,826 | 50,839 | 50,991 | 47,834 | 52,209 | 49,859 | 52,495 |
| Reserves | -4,063 | -4,859 | -7,845 | -8,647 | -11,439 | -12,916 | -13,932 | -15,545 |
| Total liabilities | 68,583 | 72,146 | 75,286 | 83,016 | 85,837 | 87,418 | 104,307 | 111,417 |
| Fixed assets | 69,368 | 72,125 | 74,233 | 78,744 | 77,158 | 78,970 | 91,119 | 96,114 |
| Total assets | 122,465 | 125,559 | 125,807 | 132,881 | 132,666 | 136,082 | 152,188 | 159,565 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 7,706 | 7,232 | 7,677 | 7,284 | 8,295 | 10,717 | 8,757 | 8,962 |
| Cash from investing | -2,214 | -3,585 | -4,064 | -8,386 | -3,893 | -4,561 | -14,152 | -7,671 |
| Cash from financing | -5,505 | -3,652 | -3,744 | 973 | -4,009 | -2,161 | 2,463 | -1,753 |
| Net cash flow | 37 | 30 | -146 | -134 | 434 | 3,832 | -2,770 | -497 |
| Capital expenditure | -4,994 | -4,226 | -4,243 | -6,152 | -3,432 | -3,512 | -4,664 | -6,554 |
| Free cash flow | 2,712 | 3,006 | 3,435 | 1,132 | 4,862 | 7,205 | 4,093 | 2,408 |
ENB revenue by segment
Liquids Pipelines shrank from 52% to 42% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Liquids Pipelines | 52% | 41% | 36% | 46% | 49% | 39% | 32% | 42% | -6.2% |
| Gas Distribution and Storage | 22% | 37% | 44% | 30% | 25% | 39% | 48% | 31% | +4.9% |
| Gas Transmission | 25% | 21% | 19% | 24% | 25% | 21% | 19% | 25% | +8.6% |
| Renewable Power Generation | 1% | 1% | <1% | 1% | 1% | 1% | 1% | 1% | +48.1% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Insider filings
No filings in the last 12 months.
No officer, director or 10% owner of ENB filed a Form 4 in this window. That is a statement about filings, not about ownership — see the note below.
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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