)
Edge28 Nov 2025
Keeping the Streak Alive: The Story of Duolingo
How Duolingo made language learning addictive, scaled to millions of users, and built a powerful subscription business around everyday practice.
Enbridge (ENB) investor relations material
Enbridge Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary7 Nov, 2025
Executive summary
Delivered a strong third quarter with record adjusted EBITDA of $4.3 billion, driven by U.S. gas utilities, organic growth in gas transmission, and robust Mainline volumes.
Net income for Q3 2025 was $682 million, down from $1,293 million in Q3 2024, mainly due to non-cash derivative changes and higher financing costs.
Added $3 billion in new growth capital to the secured capital program, expanding the backlog to $35 billion and advancing projects across all business segments.
Business model remains low-risk, with over 95% of customers investment-grade and negligible commodity price exposure.
Announced leadership transitions and continued focus on talent development.
Financial highlights
Q3 2025 adjusted EBITDA was $4,267 million, up from $4,201 million in Q3 2024; YTD adjusted EBITDA reached $14,739 million versus $13,490 million last year.
Distributable cash flow (DCF) for Q3 was $2,566 million, with DCF per share at $1.18; YTD DCF per share was $4.24.
Adjusted earnings per share for Q3 was $0.46, and YTD was $2.14; GAAP EPS for Q3 was $0.30.
Debt to EBITDA ratio at 4.8x, within the target range of 4.5–5x.
Dividend per common share for Q3 2025 was $0.94250, marking 30 consecutive years of annual increases.
Outlook and guidance
2025 full-year guidance reaffirmed: adjusted EBITDA between $19.4–$20.0 billion and DCF per share between $5.50–$5.90, with expectations to finish at the upper end.
Near-term (2023–2026) growth targets: 7–9% for adjusted EBITDA, 4–6% for adjusted EPS, ~3% for DCF per share.
Medium-term (post-2026) EBITDA, DCF/share, and EPS growth rates expected at ~5%.
DCF per share expected at the midpoint of the $5.50–$5.90 guidance range.
2026 guidance to be issued in early December.
How do new projects support post-2026 growth?
Mitigate rising financing costs impact on earnings?
Next steps for Mainline & data center growth opportunities?
DAPL regulatory status for MLO2?
Data center demand impact on GDS capital
Bridging DCF per share and EBITDA growth
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Enbridge earnings date
Q4 202513 Feb, 2026
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Enbridge Inc., together with its subsidiaries, operates as an energy infrastructure company in Canada and the United States. It operates through five segments: Liquids Pipelines; Gas Transmission and Midstream; Gas Distribution and Storage; Renewable Power Generation; and Energy Services. The company transports, generates, and distributes energy primarily in North America. It serves customers across the spectrum of industries.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage