Q: Hi 5i Team,
Pls comment on South Bow Corp. earnings report, and this company going forward.
Is it still buyable for income and hopefully with some growth.
Thanks
Pls comment on South Bow Corp. earnings report, and this company going forward.
Is it still buyable for income and hopefully with some growth.
Thanks
5i Research Answer:
GAAP EPS of 54c was up from 45c in the prior year period. Sales of $488M were lower than prior $540M. Throughput was 626,00 b/d, up 5%. The Blackrock Connection Project is on track for service in early 2026. EBITDA was $290M, up 11%. Distributable cash flow was $183M. Debt/EBITDA is 4.5X. The stock is down today, but it has been very strong for two weeks. Decent growth is forecast for 2025 and we think it is still buyable.