Enbridge Sees $1.8 Billion Profit in Q2 as Mainline Pipeline Settlement Reached

CALGARY — Enbridge Inc. says its most recent quarter delivered a profit of $1.8 billion as it reached a settlement with shippers for tolls on its Mainline pipeline system and moved toward proceeding with its Rio Bravo pipeline project.

The Calgary-based pipeline giant says its second-quarter profit compared with $450 million a year earlier.

The result matched the average analyst estimate for adjusted profit per share, according to estimates compiled by financial markets data firm Refinitiv.

The company says its financial results come as it reached a seven-and-a-half-year agreement in principle on its Mainline pipeline that is subject to regulatory approvals.