Enbridge Reaffirms 2026 EBITDA Guidance With Q1 EBITDA Flat Year-Over-Year
Enbridge held Q1 2026 adjusted EBITDA flat year-over-year at C$5.81 billion and reaffirmed full-year 2026 EBITDA guidance of C$20.2–C$20.8 billion. Distributable cash flow per share rose despite foreign exchange headwinds, supporting the company's dividend coverage and 5% medium-term growth target.
Enbridge reported first-quarter 2026 adjusted EBITDA of C$5.81 billion, unchanged from the prior-year period, and reaffirmed full-year 2026 guidance of C$20.2 billion to C$20.8 billion. Management also maintained its distributable cash flow per share outlook of C$5.70 to C$6.10 for the year.
The Calgary-based pipeline operator has grown adjusted EBITDA at an 8% compound annual rate since 2023 and targets 5% annual growth over the medium term. Distributable cash flow per share rose in the quarter despite foreign exchange headwinds, while segment performance was mixed across the company's gas transmission, liquids pipelines, and renewable power divisions.
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