Enbridge beat estimates for second-quarter adjusted profit on Friday, helped by higher volumes of liquids transported on its Mainline system.
Pipeline operators such as Enbridge are benefiting from increasing demand for natural gas, utility infrastructure and power supply for data centers, enabling the company to generate steady growth even amid geopolitical tensions and commodity price volatility.
Its Mainline system, which moves nearly half of the crude in the United States, saw second-quarter adjusted core profit rise to $1.57 billion from $1.5 billion a year ago.
The pipeline system is the largest in North America and transports light and heavy crude oil, natural gas liquids and refined products from Edmonton, Alberta, to various markets in Canada and the U.S. Midwest.
The company reported adjusted profit of 63 Canadian cents per share for the quarter ended June 30, beating analysts’ average expectation of 59 Canadian cents, according to data compiled by LSEG.
