Enbridge delivered a solid second quarter of 2026, with adjusted EBITDA increasing by over $130 million compared to the same period last year. Distributable cash flow per share rose, supported by stronger operating results and lower maintenance capital, while earnings per share were slightly down due to higher depreciation and interest expense. The company's secured capital backlog stands at $41 billion, providing a runway for growth through the decade, and it has already sanctioned approximately $9 billion of new projects in 2026, on track to secure up to $20 billion by 2027. Mainline volumes averaged 3.1 million barrels per day, and the debt-to-EBITDA ratio was 5.1 times at quarter-end, impacted by a Canadian dollar spot rate of $1.42 but within the target range when adjusted for foreign exchange. Enbridge returned $38 billion to shareholders over the past five years and expects to return between $40 billion and $45 billion over the next five years.
Enbridge IncStrong Q2 EBITDA growth, $41B secured backlog, and shareholder returns signal solid financial performance.