Enbridge to Report Q3 Earnings: What's in Store for the Stock?

Enbridge Inc. ENB is set to report third-quarter 2025 results on Nov. 7, before the opening bell.

Highlights of Q2 Earnings & Surprise History

In the last reported quarter, Enbridge’s adjusted earnings of 47 cents per share beat the Zacks Consensus Estimate of 41 cents, primarily driven by higher Adjusted EBITDA contributions from its Gas Transmission, and Gas Distribution and Storage business segments.

Earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 5.61%. This is depicted in the graph below: 

Enbridge Inc Price and EPS Surprise

Enbridge Inc price-eps-surprise | Enbridge Inc Quote

Estimate Trend

The Zacks Consensus Estimate for third-quarter earnings per share of 39 cents has witnessed three downward and no upward revisions in the past 30 days. The estimated figure suggests a decline of 2.5% from the prior-year reported number.

The Zacks Consensus Estimate for revenues of $10.86 billion indicates a 0.5% decrease from the year-ago recorded figure.

Factors to Consider for ENB

As a leading midstream energy firm, Enbridge is anticipated to have sustained stable performance in the to-be-reported quarter. Enbridge’s low-risk business model, with minimal exposure to volatility in commodity prices, is likely to have generated stable earnings underpinned by long-term contracts. Notably, more than 98% of ENB’s EBITDA is generated by assets that are regulated or covered under long-term take-or-pay contracts, which are expected to have supported its earnings and cash flows.

However, despite the stable nature of its business model, ENB’s performance in the to-be-reported quarter is anticipated to have been affected by increased financing costs and higher maintenance expenses for its midstream assets, which are likely to have weighed on its overall profitability. The Zacks Consensus Estimate for ENB’s third-quarter revenues is down from the year-ago quarter’s reported $10.91 billion.

These factors are likely to have impacted demand and pricing dynamics, potentially hampering 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 -3.42%. 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 carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Key Picks From the Energy Sector

Some top-ranked stocks from the energysector are Oceaneering International OII, Canadian Natural Resources Ltd. CNQ and FuelCell Energy FCEL. While Oceaneering and Canadian Natural Resources currently sport a Zacks Rank #1 each, FuelCell Energy carries a Zacks Rank #2. 

Oceaneering International delivers integrated technology solutions across all stages of the offshore oilfield lifecycle. The company is a leading provider of offshore equipment and technology solutions to the energy industry. OII’s proven ability to deliver innovative, integrated solutions supports ongoing client retention and new business opportunities, ensuring steady revenue growth.

Canadian Natural Resources is one of the largest independent energy companies in Canada engaged in the exploration, development and production of oil and natural gas. The company boasts a diversified portfolio of crude oil, natural gas, bitumen and synthetic crude oil. It has delivered 25 consecutive years of dividend increases, one of the longest streaks among global oil producers. 

FuelCell Energy is a clean energy company offering low-carbon energy solutions. It produces power using flexible fuel sources such as biogas, natural gas and hydrogen. The company designs fuel cells that generate electricity through an electrochemical process that combines fuel with air, reducing carbon emissions and minimizing the environmental impact of power generation. As such, FCEL is anticipated to play a crucial role in the energy transition by enabling industries and communities to shift from traditional fossil fuels to low-carbon alternatives.

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This article originally published on Zacks Investment Research (zacks.com).

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