Enbridge Inc. reported significant financial performance for the second quarter of 2025, with total operating revenues reaching CAD 14.9 billion, a 31% increase from CAD 11.3 billion in the same quarter of 2024. The company's earnings attributable to common shareholders also rose to CAD 2.18 billion, or CAD 1.00 per share, compared to CAD 1.85 billion, or CAD 0.86 per share, in the prior year. For the first half of 2025, total operating revenues were CAD 33.4 billion, up from CAD 22.4 billion in the first half of 2024, while earnings attributable to common shareholders increased to CAD 4.44 billion from CAD 3.27 billion.
The financial results reflect several strategic developments, including the successful integration of recent acquisitions such as Enbridge Gas Ohio, Enbridge Gas Utah, and Enbridge Gas North Carolina, which contributed positively to the Gas Distribution and Storage segment. The company also reported a non-cash, net unrealized derivative fair value gain of CAD 1.4 billion in the second quarter, compared to a loss of CAD 208 million in the same period last year. However, the company faced a CAD 330 million impairment related to certain rate-regulated assets due to regulatory decisions in Ohio.
Operationally, Enbridge's customer base and service metrics showed growth, with the Gas Distribution segment benefiting from increased distribution margins and higher storage optimization. The company reported a total of CAD 1.76 billion in gas distribution sales for the quarter, up from CAD 1.20 billion in the previous year. Additionally, the company has been actively expanding its geographic footprint, with the recent acquisition of six landfill gas-to-renewable natural gas production facilities in Texas and Arkansas, furthering its commitment to lower-carbon energy solutions.
Looking ahead, Enbridge anticipates continued growth driven by its diversified portfolio and ongoing capital projects. The company has secured approximately CAD 3.1 billion in capital obligation contracts for future projects, which are expected to enhance its operational capacity and market presence. Enbridge's management remains optimistic about the future, citing favorable market conditions and strategic initiatives aimed at optimizing asset utilization and enhancing shareholder value. The company is also focused on maintaining its investment-grade credit ratings and ensuring sufficient liquidity to support its growth strategy.
About ENBRIDGE INC
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