Q3 2024 Enbridge Inc Earnings Call Transcript
Key Points
- Enbridge Inc (ENB) reported strong third-quarter financial results, with record EBITDA and earnings per share of $1.19.
- The company successfully closed the acquisition of three US gas utilities, enhancing its low-risk business model and returning to an equity self-funded model.
- Enbridge Inc (ENB) is on track to place $5 billion of secured capital into service in 2024, supporting its growth strategy.
- The company has added $7 billion to its secured growth program this year, with investments in gas transmission, renewable power, and offshore oil and gas pipelines.
- Enbridge Inc (ENB) continues to deliver growing dividends for 29 years, maintaining its status as a dividend aristocrat with a stable and growing dividend yield.
- Hurricane Helene and Milton caused disruptions, although Enbridge Inc (ENB) reported limited operational interruptions and no material financial impact.
- The company faces challenges in integrating the newly acquired US gas utilities, which will require continued effort in the coming months.
- Enbridge Inc (ENB) is dealing with regulatory challenges, such as the D.C. Circuit vacating the FERC authorization for the Rio Bravo Pipeline project.
- The renewable power segment experienced a decrease in year-over-year earnings due to the absence of development fees, which can be lumpy.
- Enbridge Inc (ENB) is navigating a competitive environment in the regional pipeline expansion market, with many competitors and bottlenecks in the system.
Good morning, and welcome to the Enbridge third-quarter 2024 financial results conference call. My name is Rebecca Morley, and I'm the Vice President of Investor Relations.
Joining me this morning are Greg Ebel, President and CEO; Pat Murray, Executive Vice President and Chief Financial Officer; and the heads of each of our business units -- Colin Gruending, Liquids Pipeline; Cynthia Hansen, Gas Transmission and Midstream; Michele Harradence, Gas Distribution and Storage; and Matthew Akman, Renewable Power.
(Event Instructions) Note that this conference is being recorded. As usual, the call is being webcast, and I encourage those listening on the phone to follow along with supporting slides. We'll try to keep the call to roughly one hour, and in order to answer as many questions as possible, we'll be limiting questions to one, plus a single follow-up, if necessary.
We'll be prioritizing questions from the investment community. So if you're a member of the media, please direct your inquiries to our communications
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
