Enbridge's first quarter 2026 EPS and DCF handily beat estimates while reaffirming full-year guidance.

Enbridge reported first quarter 2026 adjusted EPS of $0.98 and Distributable Cash Flow (DCF) of $3.9 billion, both significantly beating analyst estimates. GAAP EPS for the quarter was $0.77. The company reaffirmed its full-year 2026 financial guidance and its multi-year growth outlook.

Key Highlights

• Distributable Cash Flow (DCF) was $3.85 billion, an increase from $3.78 billion in the prior-year period, driven primarily by lower current taxes.
• The company's secured capital backlog grew to $40 billion after sanctioning approximately $2 billion in new projects, including a US$0.7 billion wind farm for Meta's data center operations.
• Full-year 2026 guidance was reaffirmed, with adjusted EBITDA expected between $20.2 billion and $20.8 billion, and DCF per share between $5.70 and $6.10.