South Bow Reports Third-quarter 2026 Results, Provides 2027 Outlook, and Declares Dividend
South Bow reported Q3 2026 revenue of $503 million and net income of $99 million ($0.47/share), with normalized EBITDA of $248 million in line with expectations but down 11% sequentially on tighter pricing differentials and moderated Gulf Coast demand. The company raised 2026 distributable cash flow guidance 4% to $690 million on lower current taxes and introduced a 2027 outlook of approximately $1,070 million normalized EBITDA and $630 million DCF. The quarterly dividend of $0.50/share was declared, and leverage improved to 4.3x net debt-to-EBITDA.
Key figures
- Eps
- 0.47
- Revenue
- 503000000
- Guidance
- 2026 normalized EBITDA reaffirmed at $1,040M (+2%/-1%); 2026 distributable cash flow raised 4% to $690M +/- 2%; 2027 normalized EBITDA ~$1,070M +/- 2%, DCF ~$630M +/- 4%
- Revenue Yoy
- 9.3%
- Net debt
- 4440000000
- Net income
- 99000000
- Dcf qoq change
- +7%
- Note repayment
- $320 million principal notes repurchased for $314 million
- Ebitda qoq change
- -11%
- Normalized ebitda
- 248000000
- Dividend per share
- 0.5
- Net debt to ebitda
- 4.3
- Total long term debt
- 5416000000
- Distributable cash flow
- 187000000
- Keystone throughput bbl d
- 586000
- Gulf coast throughput bbl d
- 663000
AI analysis
Red flags3 · Pro
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.