Business
Enbridge Reports Strong First Quarter Results, Reaffirms 2026 Financial Guidance, and Grows Secured Backlog to $40 Billion
Enbridge Inc. (Enbridge or the Company) (TSX: ENB) (NYSE: ENB) today reported first quarter 2026 financial results, reaffirmed its 2026 financial guidance and provided a quarterly business update.
About this update from Enbridge Inc.
CALGARY, AB, May 8, 2026 /CNW/ - Enbridge Inc. (Enbridge or the Company) (TSX: ENB) (NYSE: ENB) today reported first quarter 2026 financial results, reaffirmed its 2026 financial guidance and provided a quarterly business update. Highlights(All financial figures are unaudited and in Canadian dollars unless otherwise noted. * identifies non-GAAP financial measures. Please refer to Non-GAAP Reconciliations Appendices.) CEO COMMENTGreg Ebel, President and CEO commented the following: "The past several months have presented some of the most volatile and complex conditions the global energy sector has faced in decades. Commodity price fluctuations, rapidly shifting geopolitical dynamics, and unprecedented supply disruptions have significantly impacted the energy landscape. Throughout this period, Enbridge—alongside the North American energy industry—has continued to deliver critical energy to homes and businesses around the world. "I am proud of the consistency of our performance this quarter, which once again reflects the strength of our diversified, low‑risk business model. Mainline volumes averaged 3.2 million barrels per day and the system has been apportioned all year, highlighting sustained supply and demand from our upstream and downstream partners. In April, we amended presidential permits for a series of pipelines, providing additional operational flexibility and supporting future expansions. We also launched open seasons on the Flanagan South and Southern Access pipelines to support Mainline Optimization Phase 2, advancing an additional 250 kbpd of egress capacity from Canada. "Across our Gas Transmission business, we are advancing high‑quality growth projects, including a 25 Bcf expansion to the Tres Palacios storage facility to offer supply optionality to customers and serve demand needs from the significant growth in LNG and power generation facilities entering service across the Gulf. In the Midwest, we sanctioned an expansion to the Vector Pipeline, adding 400 MMcf/d of westbound capacity to meet growing utility demand. Lastly, in British Columbia we received federal approval for the $4 billion T‑South Sunrise Expansion, and the liquefaction module was delivered to the Woodfibre LNG site, marking an important milestone for the facility. "Our Gas Distribution and Storage business continues to be a steady area of growth, driven...