Enbridge Meets 2021 EBITDA Guidance With $14.2 Billion

Enbridge Inc. (TSX: ENB) released this morning its Q4 and full-year 2021 financial results, which saw the company post $47.1 billion in revenue. This is an increase from 2020’s $39.1 billion.

The majority of the annual revenue came from the company’s commodity sales, notching $26.9 billion. The other revenue streams came from transportation and other services, and gas distribution sales, contributing $16.2 billion and $4.0 billion, respectively.

The firm recorded an EBITDA of $14.2 billion for the quarter, up from $10.7 billion last year. This also meets the upper end of the previously announced guidance of $13.9 billion to $14.3 billion EBITDA for 2021.

Further down, net earnings came in at $6.3 billion, an increase from last year’s $3.4 billion.

In Q4, the firm ended with an EBITDA of $4.2 billion, marginally up from Q4 2020’s $4.0 billion. Adjusted earnings came in at $1.4 billion leading to $0.68 adjusted earnings per share. These compare to last year’s $1.1 billion and $0.56 per share, respectively.

For 2021, cash provided by operating activities came in at $9.3 billion, down from $9.8 billion in 2020. Meanwhile, the distributable cash flow for the year was $10.0 billion or $4.96 per share compared to last year’s $9.4 billion or $4.67 per share.

The company ended the year with $286 million in cash and cash equivalents, up from its starting balance of $452 million at the start of the year. This puts the balance of the current assets at $9.0 billion while current liabilities came in at $18.2 billion.

The firm also reiterated its 2022 EBITDA guidance of $15.0 – $16.0 billion and distributable cash flow per share of $5.20 – $5.50.

Enbridge last traded at $54.55 on the TSX.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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