Filing Flows › Enbridge (ENB) › Q3 2026
Enbridge (ENB) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 6, 2026
Enbridge (ENB) reported revenue of $21.1B for the third quarter 2026 (Q3 2026), +44% from a year earlier and -28% from the quarter before. Operating margin was 10.1%, net earnings $1.4B (6.6% of revenue).
Enbridge, Q3 2026: revenue $21.1B (+44% year over year), operating margin 10.1%, net earnings $1.4B, operating cash flow $2.7B. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $21.1B | -28% | +44% |
| Operating profit | $2.1B | -27% | -6% |
| Net earnings | $1.4B | -7% | +77% |
| Operating cash flow | $2.7B | -34% | -6% |
What changed
Revenue was C$21.1B in Q3 2026, up 44% year over year and down 28% from the previous quarter. Commodity Sales Revenue was the largest line at 70% of revenue. Commodity Sales Revenue added C$6.5B year over year (up 77%), 100% of the total change. Transportation and Other Services Revenues declined 1%.
Operating profit was C$2.1B, a 10.1% margin (down 5.4 points year over year). Operating profit fell C$0.13B even though revenue rose C$6.4B versus Q3 2025, so costs grew faster than sales. Total costs grew 53% against revenue growth of 44%. The fastest-growing cost line was Other operating costs (+67%). Net earnings were C$1.4B, up 77% year over year. The effective tax rate was 23.3%.
Operating cash flow was C$2.7B (down 6% year over year), 188% of net income including minority interests. Non-cash charges added back C$1.5B of depreciation and amortization. Working capital and other items used C$0.23B. Capital expenditures of C$3.4B exceeded it, leaving free cash flow of −C$0.74B.
Questions
What was Enbridge's revenue in the third quarter 2026?
Enbridge (ENB) reported revenue of $21.1B for the third quarter 2026 (Q3 2026), +44% from a year earlier and -28% from the quarter before.
Was Enbridge profitable in the third quarter 2026?
Operating profit was $2.1B (10.1% of revenue) and net earnings $1.4B.
Source: Enbridge 10-Q on SEC EDGAR.