Earnings ·
South Bow reports Q3 normalized EBITDA of $248M and repurchases $320M in debt
SOBOSouth Bow Corp
South Bow reported third-quarter normalized EBITDA of $248 million, a decrease from $254 million in the prior year period. Revenue increased 9% to $503 million, driven by higher contributions from the Keystone Pipeline System segment, partially offset by lower Marketlink volumes. The company repurchased and extinguished $320 million in aggregate principal amount of its U.S. dollar-denominated Senior Notes during the quarter, reducing total long-term debt to $5.4 billion and net debt-to-normalized EBITDA ratio to 4.3 times. Distributable cash flow decreased to $187 million from $236 million year-over-year due to higher current income taxes. The Board declared a quarterly dividend of $0.50 per share, payable on January 15, 2027. South Bow operates critical liquids pipelines and facilities connecting Canadian crude oil supplies to U.S. refining markets.