Financial Data and Key Metrics Changes - Enbridge reported record EBITDA and DCF per share in 2024, with a 13% increase in EBITDA compared to 2023, reaching over 5.1billionforthequarter[12][38]−DCFpershareroseto1.41, reflecting a 10% increase year-over-year, while adjusted earnings per share increased by 17% to 0.75[38][41]−Totalshareholderreturnfor2024was375 billion in gas and renewable projects in 2024, including significant pipeline projects and solar capacity [20][68] - The company sanctioned approximately 4billioninnewcapitalprojectsfocusedonU.S.GulfCoastinfrastructure[26][74]−Theutilityfranchisehasdoubledinsize,enhancingmarketpresenceandservicecapabilities[29][77]CompanyStrategyandDevelopmentDirection−Enbridgeaimstomeetincreasingpowergenerationandindustrialneedsthroughadiversifiedportfoliothatincludeslong−haulgastransmissionandrenewablepower[19][67]−Thecompanyemphasizesalow−riskbusinessmodel,achievingguidancefor19consecutiveyears,andplanstocontinueprudentcapitalrecycling[16][62]−Futuregrowthwillfocusonbrownfieldinvestmentsandmaintainingastrongcapitalbacklogof26 billion [47][96] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the business model's ability to generate strong returns despite macroeconomic challenges [16][18] - The company anticipates continued strong demand for its services, particularly in the Liquids and Gas Transmission segments [21][70] - Enbridge reaffirmed its 2025 guidance, expecting adjusted EBITDA between 19.4billionand20 billion [42][91] Other Important Information - Enbridge increased its dividend for the 30th consecutive year, reinforcing its status as a dividend aristocrat [12][59] - The company closed the acquisition of three U.S. natural gas utilities, creating the largest gas utility franchise in North America [13][60] - Enbridge's capital allocation strategy remains focused on maintaining a strong balance sheet and disciplined investment approach [45][94] Q&A Session Summary Question: WCSB production and growth opportunities - Management discussed ongoing production growth and quick-hit projects to serve markets, with more details expected at the upcoming Investor Day [106][110] Question: Impact of new D.C. policies on energy infrastructure - Management highlighted the importance of a diversified energy portfolio and expressed optimism about a more rational approach to sustainability and permitting [112][114] Question: Appetite for investing in long-haul Liquids pipelines - Management indicated that any future investment in projects like Northern Gateway would require significant changes in political and regulatory environments [120][124]
Enbridge(ENB)2025-02-14 16:39