Enbridge Beats Q3 2026 Estimates as Revenue Rises 44% to $21.08B
Revenue of $21.08B vs. $9.62B expected and adjusted EPS of $0.49 vs. $0.36; revenue up 44% from a year earlier.
Enbridge (ENB) beat estimates for the third quarter of 2026 on both revenue and adjusted EPS. Revenue was $21.08 billion, up 44% from a year earlier, above the $9.62 billion estimate, and adjusted EPS was $0.49, up 48% from a year earlier, above the $0.36 estimate.
Shares rose 1.0% in premarket trading as of 7:38 a.m. ET, to $48.58 from a $48.11 close.
Q3 2026 scorecard
| Parameters | Expected | Actual | Beat/Miss |
|---|---|---|---|
| Adjusted EPS | $0.36 | $0.49 | Beat by 36% |
| Revenue | $9.62B | $21.08B | Beat by 119% |
| Change | YoY | QoQ |
|---|---|---|
| Adjusted EPS | ▲ 48% | ▲ 6.5% |
| Revenue | ▲ 44% | ▲ 2.1% |
By our calculation, revenue was $11.45 billion above the estimate and adjusted EPS was $0.13 above it. The QoQ column compares with the previous quarter's revenue of $20.64 billion and adjusted EPS of $0.46. The YoY column compares with $14.64 billion and $0.33 in the same quarter a year earlier.
GAAP results
- GAAP EPS. GAAP diluted EPS was $0.59, against $0.30 a year earlier.
- Net income. The company reported net income of $2.32 billion on a GAAP basis, compared with net income of $788.0 million a year earlier.
Track record
- EPS record. Adjusted EPS beat the estimate in 7 of the last 8 reports, including this one.
- Revenue record. Revenue beat the estimate in 8 of the last 8 reports.
- Revenue trend. Revenue over the last 5 reports, oldest first: $14.64 billion, $12.51 billion, $16.07 billion, $20.64 billion and $21.08 billion.
What to watch
- Next-quarter estimates. Consensus calls for EPS of $0.84 and revenue of $16.32 billion next quarter, based on 7 analysts.
- Revenue growth. Whether revenue keeps growing from a year earlier after this quarter's 44% increase to $21.08 billion.
- Estimate record. Whether Enbridge extends a record of beating EPS estimates in 7 of its last 8 reports.
- Related coverage. See our reports on Alpha Metallurgical Resources, Sunstone Hotel Investors, PPL and Array Digital Infrastructure.
Sources: Results are from Enbridge's Nov. 6, 2026 quarterly report. Estimates are consensus figures. The prior-quarter and year-ago comparison figures are from Enbridge's earlier quarterly reports. Items labeled by our calculation are our own arithmetic. This article is informational only and is not investment advice.
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