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Enbridge Inc. (NYSE: ENB) has reported impressive financial results for the first quarter of 2025, surpassing expectations and reaffirming its financial guidance for the year. The company continues to demonstrate robust performance across its various segments, positioning itself for sustained growth and stability.
 

Enbridge Reports Strong Q1 Results, Beating Earnings Expectations

The first quarter of 2025 has been a notable period for Enbridge Inc., with the company reporting GAAP earnings of $2.3 billion, or $1.04 per common share. This marks a significant increase from the $1.4 billion, or $0.67 per share, recorded in the same quarter of 2024. The adjusted earnings for Q1 2025 stood at $2.2 billion, or $1.03 per share, compared to $2.0 billion, or $0.92 per share, in the previous year.

Enbridge’s adjusted EBITDA for the quarter rose to $5.8 billion, reflecting an 18% increase from the $5.0 billion reported in Q1 2024. This growth was driven by higher Mainline throughput, favorable contracting on U.S. Gas Transmission assets, and contributions from recent U.S. gas utility acquisitions. The company’s cash provided by operating activities was $3.1 billion, slightly down from $3.2 billion in 2024, while distributable cash flow increased by 9% to $3.8 billion.

When comparing the company’s performance against expectations, Enbridge exceeded the anticipated earnings per share (EPS) of $0.68 and revenue of $9.52 billion. The actual EPS of $1.04 and the robust revenue figures underscore the company’s ability to surpass market predictions and maintain a strong financial position. The positive results reflect Enbridge’s strategic focus on optimizing its asset base and capitalizing on growth opportunities in its core segments.
 

Enbridge Reaffirms Full-Year 2025 Guidance

Looking ahead, Enbridge has reaffirmed its financial guidance for the full year 2025, projecting adjusted EBITDA between $19.4 billion and $20.0 billion, and distributable cash flow per share between $5.50 and $5.90. The company also maintains its multi-year financial outlook, anticipating near-term growth rates of 7-9% for adjusted EBITDA, 4-6% for adjusted EPS, and approximately 3% for distributable cash flow per share through 2026.

Enbridge’s strategic investments and capital allocation plans are designed to support its growth trajectory. The company has sanctioned up to $2.0 billion of Mainline capital investment through 2028 to enhance reliability and maximize throughput. Additionally, Enbridge has announced several key projects, including the acquisition of a 10% equity interest in the Matterhorn Express Pipeline and the construction of the Traverse Pipeline. These initiatives are expected to bolster the company’s asset base and drive future earnings.

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