South Bow Corp (SOBO) Form 6-K — Nov 4, 2026
South Bow reported Q3 2026 revenue of $503 million and net income of $99 million ($0.47/share), with normalized EBITDA of $248 million down 11% from Q2 on tighter pricing differentials and moderated Gulf Coast capacity demand. The company raised its 2026 distributable cash flow guidance by 4% to $690 million, declared a $0.50/share quarterly dividend, and initiated 2027 guidance with normalized EBITDA of ~$1,070 million and DCF of ~$630 million. Leverage improved to 4.3x net debt/EBITDA from 4.4x, aided by repurchasing $320 million of senior notes for $314 million.
Key figures
- Eps
- 0.47
- Revenue
- 503000000
- Guidance
- 2027 normalized EBITDA ~$1,070M (+/-2%); 2026 EBITDA reaffirmed at $1,040M; 2026 DCF guidance raised 4% to $690M; 2027 DCF ~$630M (+/-4%)
- Net Income
- 99000000
- Net debt ebitda
- 4.3
- Dividend per share
- 0.5
- Note repurchase usd
- $320M principal notes repurchased for $314M
- Normalized ebitda 9m
- 785000000
- Normalized ebitda q3
- 248000000
- Keystone throughput bbl d
- 586000
- Distributable cash flow q3
- 187000000
- Gulf coast throughput bbl d
- 663000
AI analysis
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