Enbridge reaffirms 2023-2026 CAGR for EBITDA, adjusted EPS, DCF

The company reaffirmed its 2023 to 2026 compound annual growth rate outlook of 7%-9% for EBITDA, 4%-6% for adjusted earnings per share and approximately 3% for DCF per share, and post 2026 growth outlook of about 5% for EBITDA, EPS and DCF per share. Commenting on the company’s outlook, Greg Ebel, President and CEO of Enbridge (ENB), noted the following: “I’m pleased to announce Enbridge’s 2026 financial guidance. We are forecasting another year of steady and predictable growth driven by new projects entering service, as well as strong utilization and optimization of existing assets. Next year, Enbridge expects to generate Adjusted EBITDA between $20.2 and $20.8 billion and DCF per share between $5.70 and $6.10 per share, which represents a 4% increase from the respective midpoints of our 2025 guidance. We have approximately $8 billion of new projects entering service in 2026 across our franchises, all of which are underpinned by low-risk commercial frameworks. We also expect strong growth in 2026 from recent rate settlements and rate cases in both Gas Distribution and Gas Transmission. These regulatory outcomes support visible, durable growth through rate escalation and quick-cycle capital recovery mechanisms. We also announced a 3% increase to our common share dividend for 2026, representing our 31st consecutive annual increase. This increase reinforces our dividend aristocrat status, is underpinned by our growing cash flows and supports Enbridge’s first-choice investment proposition.”