Enbridge sees 2025 adjusted EBITDA C$19.4B-C$20.0B

Sees 2025 DCF per share C$5.50-C$5.90. CEO Greg Ebel noted: “Our 2025 guidance, once again, reflects the predictability embedded across our businesses. We expect to generate EBITDA between C$19.4B-C$20.0B. This represents a 9% increase from the midpoint of our 2024 recast guidance and is 17% higher than our original 2024 guidance, driven by a full year of contributions from our U.S. gas utilities acquisitions, the roughly C$5B of secured projects we’re on track to place into service in 2024 and continued strong expected utilization of our assets. Enbridge’s (ENB) business model is designed to succeed and deliver reliable cash flow in all market cycles. We are pleased to announce a 3% increase to the common share dividend, marking the 30th consecutive annual increase. Consistent dividend growth is an important component of our investor value proposition and underpins our dividend aristocrat status. We are committed to being a first-choice investment opportunity today and into the future. Looking forward, Enbridge is well-positioned to continue to deliver reliable growth. Year-to-date, we have added $7B of new capital to our secured growth backlog and announced ~$1B of highly strategic, accretive tuck-in acquisitions. Our financial guardrails of 4.5-5.0x Debt-to-EBITDA and 60-70% DCF payout remain firmly in place, and we anticipate tailwinds to these metrics through the balance of our outlook.”