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Enbridge Prepares to Report Q3 Earnings: What's in the Cards?

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Key Takeaways

  • ENB's Q3 earnings are estimated at 36 cents per share, up 9.1% y/y, despite one recent downward revision.
  • Enbridge's long-term contracts and low commodity price exposure are expected to support stable earnings.
  • Higher financing costs are expected to weigh on Enbridge's quarterly profitability and overall earnings.

Enbridge Inc. (ENB - Free Report) is set to report third-quarter 2026 results on Nov. 6, before the opening bell.

Highlights of Q2 Earnings & Surprise History

In the last reported quarter, Enbridge’s adjusted earnings of 46 cents per share beat the Zacks Consensus Estimate of 43 cents, primarily driven by high utilization across its four businesses.

Earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missed once, delivering a negative average surprise of 0.13%. This is depicted in the graph below.

Enbridge Inc Price and EPS Surprise

Enbridge Inc Price and EPS Surprise

Enbridge Inc price-eps-surprise | Enbridge Inc Quote

Estimate Trend of ENB

The Zacks Consensus Estimate for third-quarter earnings per share of 36 cents has witnessed one downward and no upward revisions in the past seven days. The estimated figure suggests an improvement of 9.1% from the prior-year reported figure.

The Zacks Consensus Estimate for revenues of $10.32 billion indicates a 2.9% decline from the year-ago recorded figure.

Factors to Consider for ENB

As a leading North American energy infrastructure company, Enbridge connects approximately 75% of the continent’s refining capacity, transports about 20% of the natural gas consumed in the United States and serves about 7.2 million utility customers across Canada and the United States.

Backed by long-term contracts and low exposure to commodity price volatility, the company's low-risk business model is expected to deliver stable earnings for the to be-reported quarter.

Despite the stable nature of its business model, ENB’s performance in the to-be-reported quarter is expected to have been affected by higher financing costs, which likely weighed on its overall profitability and dampened Enbridge’s quarterly performance.

Earnings Whispers

Our proven model does not conclusively predict an earnings beat for ENB this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the chances of an earnings beat. That is not the case here, as you will see below.

Earnings ESP: Enbridge has an Earnings ESP of -2.93%. You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.

ENB’s Zacks Rank: ENB currently has a Zacks Rank #4 (Sell). 

You can see the complete list of today’s Zacks #1 Rank stocks here.

Key Picks From the Energy Sector

Here are some energy firms that you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.

Targa Resources Corporation (TRGP - Free Report) has an Earnings ESP of +2.05% and a Zacks Rank #3 at present.

TRGP is scheduled to release third-quarter 2026 earnings on Nov. 5. The Zacks Consensus Estimate for TRGP’s earnings is pegged at $2.74 per share, indicating a 24.6% improvement from the prior-year reported figure.

EOG Resources (EOG - Free Report) has an Earnings ESP of +0.79% and a Zacks Rank #2 at present. EOG is scheduled to release third-quarter 2026 earnings on Nov. 5. 

The Zacks Consensus Estimate for EOG’s earnings is pegged at $4.45 per share, suggesting a 64.2% improvement from the prior-year reported figure.

Occidental Petroleum (OXY - Free Report) has an Earnings ESP of +4.14% and a Zacks Rank #2 at present. OXY is scheduled to release third-quarter 2026 earnings on Nov. 9.

The Zacks Consensus Estimate for OXY’s earnings is pegged at $1.43 per share, suggesting a 123.4% increase from the prior-year reported figure.

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