South Bow reports profit of US$96 million in second quarter

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3 days ago

Keystone pipeline facilities are seen in Hardisty, Alta., on Friday, Nov. 6, 2015. THE CANADIAN PRESS/Jeff McIntosh
CALGARY — Pipeline operator South Bow Corp. says it had a net income of US$96 million in its second quarter, up from US$88 million in the same quarter last year.
Calgary-based South Bow says earnings amounted to 46 cents per share in the quarter ending June 30, up from 42 cents last year.
On an adjusted basis, its profit worked out to 42 cents per share, up from 34 cents last year, while the mean analyst expectation had been for 34 cents per share this quarter as well, according to LSEG Data & Analytics.
The company had average throughput of 544,000 barrels per day on its Keystone pipeline, and 760,000 barrels per day on the U.S. Gulf Coast segment of the Keystone pipeline system.
On April 8, the company had an oil spill on its Keystone pipeline near Fort Ransom, N.D., that forced it to shut down the line, but it reopened the line on April 15.
It says it completed cleanup of the roughly 3,500-barrel spill in early June, with costs related to the incident totalling US$58 million.
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This report by The Canadian Press was first published Aug. 7, 2025.