Energy giant Enbridge (TSX:ENB)(NYSE:ENB) recently reported its second-quarter financial results for 2026, showcasing the resilience of its extensive operations. The stock has been on a tear, up 16% this year, and these latest numbers give investors plenty of reasons to remain optimistic.
For Q2, the company delivered adjusted earnings of $1.4 billion, or $0.63 per common share. This was nearly identical with how it did in the same period last year, when its adjusted per-share profit was $0.65. Notably, its adjusted earnings before interest, income taxes, depreciation, and amortization (EBITDA) climbed to $4.8 billion, an increase from the $4.6 billion recorded last year.
Cash flow also saw a significant boost. Enbridge reported cash provided by operating activities of $4.1 billion, a strong jump compared to $3.2 billion in 2025. As a result of this steady performance, the energy infrastructure powerhouse reaffirmed its full-year 2026 financial guidance and its medium-term financial outlook.
Beyond these impressive metrics, the company continues to expand its operational footprint. During the quarter, it added $1 billion to its growth project backlog, which now stands at a massive $41 billion. Key developments included sanctioning the Line 5 relocation project in Wisconsin, and signing an exclusive option to acquire the TTC Connector Pipeline.
With energy markets remaining volatile, the scale of this resilient pipeline operator offers investors a safe-haven option to invest in. Plus, it still pays a fairly high dividend that yields 5.1%, even with its impressive gains thus far this year. Although the stock is trading near its 52-week high, it can still be an excellent long-term investment worth buying right now.