Filing Flows › Enbridge (ENB) › Q2 2026
Enbridge (ENB) Q2 2026 earnings results (second quarter 2026)
10-Q filed Jul 31, 2026
Enbridge (ENB) reported revenue of $29.3B for the second quarter 2026 (Q2 2026), +97% from a year earlier and +31% from the quarter before. Operating margin was 9.9%, net earnings $1.5B (5.1% of revenue).
Enbridge, Q2 2026: revenue $29.3B (+97% year over year), operating margin 9.9%, net earnings $1.5B, operating cash flow $4.1B. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $29.3B | +31% | +97% |
| Operating profit | $2.9B | -10% | +27% |
| Net earnings | $1.5B | -16% | -34% |
| Operating cash flow | $4.1B | +76% | +27% |
| Free cash flow | $1.1B | — | -15% |
What changed
Revenue was C$29.3B in Q2 2026, up 97% year over year and up 31% from the previous quarter. Commodity Sales Revenue was the largest line at 77% of revenue. Commodity Sales Revenue added C$14.5B year over year (up 178%), 100% of the total change. Transportation and Other Services Revenues declined 2%.
Operating profit was C$2.9B, a 9.9% margin (down 5.5 points year over year). Of the extra revenue versus Q2 2025, 4% reached operating profit, below the 15% margin then. Total costs grew 110% against revenue growth of 97%. The fastest-growing cost line was Other operating costs (+134%). Net earnings were C$1.5B, down 34% year over year. The effective tax rate was 22.0%.
Operating cash flow was C$4.1B (up 27% year over year), 262% of net income including minority interests. Non-cash charges added back C$1.4B of depreciation and amortization. Working capital and other items added C$1.1B. Capital expenditures of C$3.0B left free cash flow of C$1.1B.
Questions
What was Enbridge's revenue in the second quarter 2026?
Enbridge (ENB) reported revenue of $29.3B for the second quarter 2026 (Q2 2026), +97% from a year earlier and +31% from the quarter before.
Was Enbridge profitable in the second quarter 2026?
Operating profit was $2.9B (9.9% of revenue) and net earnings $1.5B.
Source: Enbridge 10-Q on SEC EDGAR.