South Bow Beats Q3 2026 Estimates as Revenue Rises 9.1% to $503.0M

South Bow (SOBO) beat estimates for the third quarter of 2026 on both revenue and adjusted EPS. Revenue was $503.0 million, up 9.1% from a year earlier, above the $476.0 million estimate, and adjusted EPS was $0.47, unchanged from a year earlier, above the $0.43 estimate.

Q3 2026 scorecard

By our calculation, revenue was $27.0 million above the estimate and adjusted EPS was $0.04 above it. The QoQ column compares with the previous quarter's revenue of $546.0 million and adjusted EPS of $0.50. The YoY column compares with $461.0 million and $0.47 in the same quarter 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 4 of the last 8 reports.
• Revenue trend. Revenue over the last 5 reports, oldest first: $461.0 million, $503.0 million, $491.0 million, $546.0 million and $503.0 million.

What to watch

• Next-quarter estimates. Consensus calls for EPS of $0.44 and revenue of $493.8 million next quarter, based on 6 analysts.
• Next report. South Bow is next expected to report on March 11, 2027.
• Revenue growth. Whether revenue keeps growing from a year earlier after this quarter's 9.1% increase to $503.0 million.
• Related coverage. See our reports on Aris Mining, Terreno Realty, Revolution Medicines, Inc. Warrant and Pan American Silver.

Sources: Results are from South Bow's Nov. 4, 2026 quarterly report. Estimates are consensus figures. The prior-quarter and year-ago comparison figures are from South Bow's earlier quarterly reports. Items labeled by our calculation are our own arithmetic. This article is informational only and is not investment advice.