CALGARY — Enbridge Inc. says its profits rose in the second quarter compared with last year, largely from changes in the value of derivative financial instruments.

The Calgary-based energy company says earnings amounted to $2.18 billion for the quarter ending June 30, up from $1.85 billion in the same quarter last year.

The company says adjusted earnings worked out to $1.42 billion for the quarter, up from $1.25 billion last year.

Adjusted earnings was 65 cents per common share, compared to 58 cents per share last year.

The mean analyst estimate had been for earnings of 57 cents per share, according to LSEG Data & Analytics.

Chief executive Greg Ebel says steady demand and low-risk commercial frameworks have led to predictable results despite geopolitical and macroeconomic volatility.

This report by The Canadian Press was first published Aug. 1, 2025.