CALGARY — Enbridge Inc. reported a profit attributable to common shareholders of $493 million in its fourth quarter, down from $1.73 billion a year earlier.

The pipeline company says the profit amounted to 23 cents per share for the quarter ended Dec. 31, down from 81 cents per share in the last three months of 2023.

On an adjusted basis, Enbridge says it earned 75 cents per share in its latest quarter, up from an adjusted profit of 64 cents per share a year earlier.

Analysts on average had expected an adjusted profit of 75 cents per share, according to LSEG Data & Analytics.

Enbridge chief executive Greg Ebel says the company continues to deliver predictable results and stable returns for shareholders.

He added that impacts from proposed tariffs on U.S. energy imports are not expected to be material to Enbridge’s financial guidance.

This report by The Canadian Press was first published Feb. 14, 2025.

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The Canadian Press