NYSE$SOBO
South Bow Corp · Q2 2025 earnings
Q2 2025 earnings · · Investor relations
Briefing
South Bow reported Q2 2025 revenue of $524M with net income of $96M and diluted EPS of $0.46.
The pipeline operator generated $524 million of revenue and $96 million of net income, or $0.46 per share, on stable Keystone throughput and contractual commitments. Normalized EBITDA was $250 million, down 6% sequentially on lower marketing contributions. The company declared a $0.50 quarterly dividend and progressed the Blackrod Connection Project toward early-2026 in-service.
- Q2 revenue $524M; net income $96M; EPS $0.46.
- Keystone throughput averaged ~544 Mbbl/d in the quarter.
- Normalized EBITDA $250M; distributable cash flow $167M.
- Quarterly dividend $0.50/share maintained.
Headline financials
Revenue & EPS history
South Bow Corp · Revenue · Quarterly
$524M
Forward guidance
Energy outlook ties to commodity prices, volumes, and capital allocation.
Tailwinds
- Production or throughput growth and dividends.
- Cost discipline and project execution.
Headwinds
- Commodity price volatility and regulatory change.
- Project timing and integration costs.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 5 quarterly earnings reports · overlaid with Q2 2025
+0.7%
Avg return
Earnings day
+2.5%
Avg return
5 days after
+3.6%
Avg return
30 days after
80%
4 / 5 earnings
Positive
+5.2%
Q3 2025
Best reaction
-4.2%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.1% | +4.3% | +6.2% | |
| Q4 2025 | +0.1% | -0.8% | -0.5% | |
| Q3 2025 | +5.2% | +7.2% | +4.3% | |
| Q2 2025 | +1.1% | +1.7% | +2.6% | |
| Q1 2025 | -4.2% | +0.0% | +5.2% |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro