CANADA'S ENBRIDGE BEATS ESTIMATES FOR FOURTH-QUARTER PROFIT

Feb 13 (Reuters) - Canadian pipeline operator Enbridge beat expectations for fourth-quarter profit on Friday, as robust power demand helped lift volumes of gas and liquids transported through its systems.

Pipeline operators are benefiting from an increase in demand for natural gas, primarily driven by liquefied natural gas exports, and soaring power generation tied to increased use of artificial intelligence, cryptocurrency mining and data centers.

The company said it had also secured roughly C$39 billion in project backlog and expects about C$8 billion of that to come into service this year.

Enbridge acquired three utilities from U.S.-based Dominion Energy last year, expanding its gas distribution business.

This led to a rise in core profit from its gas distribution unit to C$1.14 billion, from C$1.02 billion last year.

Meanwhile, Enbridge's Mainline system, which moves nearly half of the crude in the United States, saw fourth-quarter adjusted core profit rise to C$1.41 billion, from last year's C$1.34 billion.

The Calgary-based company posted an adjusted profit of 88 Canadian cents per share for the three months ended December 31, compared with the average of analysts' estimates of 77 Canadian cents, according to data compiled by LSEG.

(Reporting by Vallari Srivastava in Bengaluru; Editing by Leroy Leo)

2026-02-13T12:13:06Z