Enbridge Inc. reported robust financial results for the third quarter of 2024, with its profit more than doubling to $1.3 billion. The company's revenue for the quarter reached CA$14.9 billion, marking a substantial 51% increase compared to Q3 2023.
Earnings per share for common shareholders were reported at 43 cents, with total earnings attributable to common shareholders at $1.02 billion. Despite a drop in adjusted earnings, the company's EBITDA saw an increase, driven by strong operational performance.
Enbridge confirmed its 2024 financial guidance, signaling confidence in its ongoing operations. The company highlighted that steady oil demand, with U.S. oil consumption and gasoline demand reaching their highest seasonal levels since 2019 in July, contributed to the increased profit.
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