What were Enbridge's first-quarter adjusted profit results compared to analyst expectations, and which business segments drove the outperformance?

Enbridge reported first-quarter adjusted profit of 98 Canadian cents per share, surpassing analysts' average estimate of 94 Canadian cents, according to LSEG data. This outperformance was driven by robust results in its gas transmission and utility businesses—specifically, gas transmission earnings rose 6.6% to C$1.57 billion and gas distribution and storage core profit increased 6.8% to C$1.71 billion—while softer liquids pipeline results, including a 13.2% decline in Mainline adjusted core profit to C$1.45 billion, were offset by these stronger segments.

How much did Enbridge add to its secured growth backlog in the first quarter, what projects were included, and what is the current total size of that backlog?

Enbridge added approximately C$2 billion ($1.47 billion) in new projects to its secured growth backlog during the first quarter, including the Cone onshore wind project in Texas and expansions at the Tres Palacios and Dawn Hub storage facilities, as well as its Vector Pipeline system. Its secured growth backlog now stands at about C$40 billion and is expected to be funded through its annual growth capital investment capacity of C$10 billion to C$11 billion.

Canada's Enbridge tops profit estimates on gas transmission strength

May 8, 2026

Canada's Enbridge reported first-quarter adjusted profits exceeding analyst expectations, driven by strong gas transmission and utility businesses. The company added C$2 billion in projects to its secured growth backlog, totaling approximately C$40 billion.

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Canada's Enbridge tops profit estimates on gas transmission strength

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