CALGARY — Enbridge Inc. reported a first-quarter profit attributable to common shareholders of $1.67 billion, down from $2.26 billion a year earlier.
The pipeline company says the profit amounted to 77 cents per share for the quarter ended March 31, down from $1.04 per share in the same quarter last year.
The company said the drop was primarily due to non-cash, unrealized changes in derivatives used to manage foreign exchange, interest rate and commodity price risks.
On an adjusted basis, Enbridge says it earned 98 cents per share in its latest quarter, down from an adjusted profit of $1.03 per share in the first quarter of 2025.
The company says its secured capital backlog stood at $40 billion as it sanctioned several projects including the Cone project, an onshore wind facility in Texas that will support a data centre for Meta Platforms Inc.
Enbridge is also going ahead with growth at its Tres Palacios natural gas storage facility and an expansion of its 60 per cent owned Vector Pipeline.
This report by The Canadian Press was first published May 8, 2026.
