Crude pipeline operator South Bow reports quarterly net income of US$99M

Crude oil pipeline operator South Bow Corp. reported a third-quarter net income of US$99 million, marking an increase from US$93 million a year earlier. The profit equated to 47 cents US per share, compared to 45 cents US per share during the same period last year. Revenue for the quarter grew to US$503 million from US$461 million in the previous year.

South Bow, along with its U.S. partner Bridger Pipeline LLC, anticipates making a final investment decision in mid-2027 regarding a new cross-border pipeline system utilizing some of the dormant infrastructure from the Keystone XL project. The Calgary-based company, which separated from TC Energy Corp. in late 2024, projects its share of pre-development costs for the project to be US$65 million this year and another US$65 million next year.

South Bow intends to potentially accelerate spending on the project once there is greater regulatory certainty and permit durability.