South Bow (SOBO) Q2 2025 Earnings Call August 07, 2025 10:00 AM ET Company ParticipantsMartha Wilmot - Director - IRBevin Wirzba - President, CEO & DirectorRichard Prior - SVP & COOVan Dafoe - SVP & CFOMaurice Choy - Director - Canadian Energy InfrastructureBurke Sansiviero - Equity Research Senior AssociateJessica Hoyle - Associate DirectorSam Burwell - Vice PresidentAly Hemraj - Equity Research AssociateConference Call ParticipantsPraneeth Satish - AnalystOperatorGood day and thank you for standing by. We ...

South Bow (SOBO) Q2 2025 Earnings Call August 07, 2025 10:00 AM ET Speaker0Good day and thank you for standing by. Welcome to the South Bow Quarter two Conference Call. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a question and answer session. To ask a question during the session, you will need to press 11 on your telephone.You will then hear an automated message advising your hand is raised. To withdraw your question, please press 11 again. Plea ...

I have been following South Bow (NYSE: SOBO ) (TSX: SOBO:CA ) since it became a public company last year, when it was spun off from TC Energy ( TRP ) as I liked the valuation this oil-focused midstream company was coming to the marketHe is the leader of the investment group European Small Cap Ideas which offers exclusive access to actionable research on appealing Europe-focused investment opportunities not found elsewhere. The a focus is on high-quality ideas in the small-cap space, with emphasis on capital ...

CALGARY, Alberta, Aug. 06, 2025 (GLOBE NEWSWIRE) -- South Bow Corp. (TSX & NYSE: SOBO) (South Bow or the Company) reports its second-quarter 2025 financial and operational results. Unless otherwise noted, all financial figures in this news release are in U.S. dollars. Highlights Safety and operational performance Recorded average throughput of approximately 544,000 barrels per day (bbl/d) on the Keystone Pipeline in the second quarter of 2025, and approximately 760,000 bbl/d on the U.S. Gulf Coast segment o ...

Corporate Presentation AUGUST 2025 South Bow at a Glance A strategic liquids pipelines franchise connecting resilient supply to the strongest demand markets in North America OPERATIONAL HIGHLIGHTS | 4,900 | km | Pipeline footprint | | --- | --- | --- | | 1.25 | MMbbl/d | Crude oil delivered safely and reliably | | 7.6 | MMbbl | Terminal storage capacity | FINANCIAL HIGHLIGHTS1 | 208 million | Shares outstanding | | --- | --- | | $5.5 billion | Market capitalization | | $10.9 billion | Enterprise value2 | | ...

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering South Bow Corporation (SOBO) , which belongs to the Zacks Oil and Gas - Production and Pipelines industry.When looking at the last two reports, this company has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 20.24%, on average, in the last two quarters.For the most recent quarter, South Bow Corporation was expec ...

CALGARY, Alberta, July 17, 2025 (GLOBE NEWSWIRE) -- South Bow Corp. (TSX & NYSE: SOBO) (South Bow or the Company) announces the extension of the expiration date for the previously announced exchange offers relating to certain outstanding notes of South Bow Canadian Infrastructure Holdings Ltd. (the Canadian Exchange Offer) and South Bow USA Infrastructure Holdings LLC (the U.S. Exchange Offer). South Bow Canadian Infrastructure Holdings Ltd. exchange offer South Bow Canadian Infrastructure Holdings Ltd., a ...

Company Overview - South Bow Corp. operates 4,900 kilometres (3,045 miles) of crude oil pipeline infrastructure, connecting Alberta crude oil supplies to U.S. refining markets in Illinois, Oklahoma, and the U.S. Gulf Coast [6] - The company is based in Calgary, Alberta, and is an investment-grade spinoff of TC Energy, having become a standalone entity on October 1, 2024 [6] Financial Results Announcement - South Bow Corp. will release its second-quarter 2025 financial and operational results after the close of markets on August 6, 2025 [1] - A conference call and webcast to discuss these results will be held on August 7, 2025, at 8 a.m. MT (10 a.m. ET) [2] Conference Call Details - Participants can register for the conference call via a provided link to receive a unique PIN for access [3] - The conference call can be accessed by telephone or through an automated call option [3] - A replay of the event will be available on the company's investor relations website [4]

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Financial Data and Key Metrics Changes - The company reported a normalized EBITDA of $266 million for the first quarter of 2025, indicating a solid financial start to the year [5][9] - The company reaffirmed its normalized EBITDA guidance for 2025 at $1.01 billion, with 90% of EBITDA contracted over the next seven years, minimizing commodity price and volumetric risks [9][16] Business Line Data and Key Metrics Changes - The company successfully completed the pipeline scope of the Blackrod Connection project, which is expected to contribute to future EBITDA growth [5][18] - The company maintained a system operating factor of 98% in the first quarter, demonstrating effective operations and strong system availability [13][75] Market Data and Key Metrics Changes - The company noted that 94% of its volumes are fully committed, with only 6% reserved for uncontracted volumes, indicating a stable market position despite headwinds [46] - The company experienced volatility in uncontracted capacity due to additional pipeline egress capacity and tariff uncertainties, but this was anticipated [46][48] Company Strategy and Development Direction - The company is focused on maintaining a risk-managed approach to capital allocation while strengthening its investment-grade financial position [20] - The management emphasized the importance of pipeline integrity and safety, committing to ongoing investments in integrity programs [8][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to meet its contractual commitments despite operational restrictions due to the Milepost 171 incident [12][34] - The management highlighted the importance of transparency with stakeholders as they navigate the aftermath of the incident and work on remedial actions [19][45] Other Important Information - The company declared a quarterly dividend of $0.50 per share, payable on July 15, indicating a commitment to returning value to shareholders [6] - The company is coordinating closely with regulators and third-party experts to investigate the Milepost 171 incident and implement enhanced integrity programs [13][14] Q&A Session Summary Question: Can you elaborate on the range of outcomes post-incident? - Management emphasized that 90% of EBITDA is contracted, reducing risk on the base business, and they are working closely with regulators to assess maintenance activities [24][26] Question: What are the expectations regarding pressure restrictions and their duration? - Management indicated it is too early to speculate on the timeframe for pressure restrictions, as investigations are ongoing [33][36] Question: How will the incident impact leverage and costs? - Management expects all costs related to the incident to be covered by insurance or through variable tolls, maintaining the debt to EBITDA ratio [42][43] Question: What is the outlook for uncommitted volumes? - Management noted that while there are headwinds against uncontracted barrels, the base business remains stable due to high contract commitments [46][48] Question: How does the company view long-term EBITDA growth? - Management remains optimistic about the Blackrod project contributing to future growth and sees potential tightening of egress volumes in 2026 [51][53] Question: What is the company's stance on potential asset sales and partnerships? - Management stated that all assets are core and while there are no current plans for asset sales, they remain open to partnerships, particularly with First Nations [59][60] Question: How is the company addressing the market interest post-election? - Management reported consistent interest from customers on both ends of the system, indicating a positive outlook for future business development [66][67]