Enbridge (ENB) Q1 FY2022 earnings: revenue $15.1 billion, up 23.9% on the year

Enbridge Inc. (ENB) reported revenue of $15.1 billion for Q1 FY2022, the quarter ended 31 March 2022, up 23.9% on the same quarter a year earlier. Net income was $2.0 billion, up 1.9% on the year, and diluted earnings per share $0.95. The figures are the company's own, from the 10-Q it filed with the SEC on 6 May 2022.

Revenue$15.1 billionup 23.9%

Net income$2.0 billionup 1.9%

Diluted EPS$0.95

QuarterQ1 FY2022ended 31 March 2022

The quarter, against the one before and a year earlier

Line	Q1 FY2022	Q4 FY2021	A year earlier	Change on the year
Revenue	15,097	12,470	n/a	n/a
Cost of revenue	9,747	7,368	n/a	n/a
Gross profit	5,350	5,102	n/a	n/a
Gross margin	35.4%	40.9%	n/a
Operating income	2,420	2,053	n/a	n/a
Operating margin	16.0%	16.5%	n/a
Interest expense	719	732	n/a	n/a
Pre-tax income	2,650	2,428	n/a	n/a
Income tax	593	463	n/a	n/a
Effective tax rate	22.4%	19.1%	n/a
Net income	2,029	1,933	n/a	n/a
Net margin	13.4%	15.5%	n/a
Diluted EPS	$0.95	$0.91	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q1 FY2022	Q4 FY2021	A year earlier	Change on the year
Operating cash flow	2,939	2,302	n/a	n/a
Capital expenditure	1,048	2,343	n/a	n/a
Free cash flow	1,891	-41.0	n/a	n/a
Free cash flow margin	12.5%	-0.3%	n/a
Cash from investing	-1,318	-5,162	n/a	n/a
Cash from financing	-1,483	2,658	n/a	n/a
Depreciation and amortisation	1,055	1,047	n/a	n/a
Buybacks	50.0	0.0	n/a	n/a
Dividends paid	1,742	1,692	n/a	n/a
Dividend per share	$0.86	n/a	n/a	n/a
Diluted shares, weighted	2,029m	n/a	n/a	n/a
Shares outstanding at period end	2,026m	2,026m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q1 FY2022	Q4 FY2021	A year earlier	Change on the year
Shareholders' equity	61,737	60,826	n/a	n/a
Non-controlling interest	2,536	2,542	n/a	n/a
Short-term borrowings	1,604	1,515	n/a	n/a
Debt	70,490	73,809	n/a	n/a
Operating lease liabilities	n/a	612	n/a	n/a
Finance lease liabilities	n/a	33.0	n/a	n/a
Other liabilities	33,024	29,527	n/a	n/a
Total liabilities and equity	169,391	168,864	n/a	n/a
Fixed assets	99,346	100,067	n/a	n/a
Goodwill	32,503	32,775	n/a	n/a
Intangible assets	3,895	4,008	n/a	n/a
Investments	13,361	13,324	n/a	n/a
Cash and equivalents	413	286	n/a	n/a
Inventory	1,212	1,670	n/a	n/a
Other assets	18,661	16,734	n/a	n/a
Total assets	169,391	168,864	n/a	n/a

Questions

What was Enbridge's revenue in Q1 FY2022?

Enbridge (ENB) reported revenue of $15.1 billion for Q1 FY2022, the quarter ended 31 March 2022, up 23.9% on the same quarter a year earlier.

How much did Enbridge earn in Q1 FY2022?

Net income for Q1 FY2022 was $2.0 billion, up 1.9% on the year, and diluted earnings per share $0.95.

When did Enbridge report Q1 FY2022 results?

Enbridge filed its 10-Q for the quarter ended 31 March 2022 with the SEC on 6 May 2022.

Quarterly results, the last 20 quarters

	Q3 FY2021	Q4 FY2021	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025	Q1 FY2026	Q2 FY2026
Revenue	11,466	12,470	15,097	13,215	11,573	13,424	12,075	10,432	9,844	11,298	11,038	11,336	14,882	16,217	18,502	14,876	14,639	17,177	22,357	29,318
Cost of revenue	7,467	7,368	9,747	8,637	6,630	7,575	6,230	4,917	4,831	5,388	5,000	5,482	9,066	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Gross profit	3,999	5,102	5,350	4,578	4,943	5,849	5,845	5,515	5,013	5,910	6,038	5,854	5,816	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Gross margin	35%	41%	35%	35%	43%	44%	48%	53%	51%	52%	55%	52%	39%	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Operating income	1,388	2,053	2,420	1,520	1,778	-540	2,662	2,350	1,794	1,845	2,711	2,273	2,218	2,447	3,672	2,289	2,271	2,726	3,225	2,910
Operating margin	12%	16%	16%	12%	15%	-4%	22%	23%	18%	16%	25%	20%	15%	15%	20%	15%	16%	16%	14%	10%
Interest expense	648	732	719	791	806	863	905	883	921	1,103	905	1,082	1,314	1,118	1,334	1,181	1,262	1,246	1,222	1,395
Pre-tax income	1,013	2,428	2,650	740	1,701	-549	2,376	2,520	751	2,232	1,951	2,740	1,759	849	3,187	2,987	1,163	2,456	2,365	2,012
Tax rate	20%	19%	22%	18%	19%	n/a	21%	21%	17%	30%	20%	27%	18%	27%	22%	22%	27%	13%	25%	22%
Net income	780	1,933	2,029	595	1,362	-983	1,817	1,935	621	1,818	1,512	1,943	1,391	595	2,364	2,279	788	2,060	1,778	1,501
Net margin	7%	16%	13%	5%	12%	-7%	15%	19%	6%	16%	14%	17%	9%	4%	13%	15%	5%	12%	8%	5%
Diluted EPS	$0.34	$0.91	$0.95	$0.22	$0.63	-$0.53	$0.85	$0.91	$0.26	$0.81	$0.67	$0.86	$0.59	$0.23	$1.03	$1.00	$0.30	$0.89	$0.76	$0.64
Operating cash flow	2,163	2,302	2,939	2,534	2,144	3,613	3,866	3,439	3,084	3,812	3,151	2,814	2,973	3,662	3,053	3,238	2,868	3,111	2,342	4,111
Capital expenditure	2,012	2,343	1,048	954	1,202	1,443	1,129	964	1,191	1,370	1,185	1,348	1,632	2,546	1,723	1,900	2,321	3,029	2,439	2,975
Free cash flow	151	-41.0	1,891	1,580	942	2,170	2,737	2,475	1,893	2,442	1,966	1,466	1,341	1,116	1,330	1,338	547	82.0	-97.0	1,136
Buybacks	0.0	0.0	50.0	101	0.0	0.0	0.0	125	0.0	0.0	n/a	n/a	0.0	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Dividends paid	1,692	1,692	1,742	1,743	1,741	1,742	1,798	1,797	1,795	1,886	1,945	1,945	1,995	1,990	2,054	2,055	2,055	2,056	2,116	2,120
Shares outstanding	2,026m	2,026m	2,026m	2,025m	2,025m	2,025m	2,025m	2,023m	2,126m	2,125m	2,126m	2,177m	2,178m	2,178m	2,180m	2,181m	2,181m	2,182m	2,184m	2,184m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2022, filed 6 May 2022: the filing.