Total operating revenues

+14% (from $16,217M to $18,502M)

Revenue growth is driven by increased commodity sales, higher gas distribution, and improved transportation and other services, reflecting favorable market conditions and benefits from recent acquisitions compared to Q4 2024. "

Operating income

+50% (from $2,447M to $3,672M)

Operating efficiency improvements and cost synergies, along with increased throughput, have supported a significant uplift in operating income, signaling that higher revenue levels were effectively managed relative to the previous period. "

Net earnings

+303% (from $618M to $2,490M)

Dramatic profit expansion resulted from enhanced operational performance, likely aided by favorable non-cash adjustments and a reduction in previous period expense items, leading to a surge in net earnings compared to Q4 2024. "

Earnings attributable to common shareholders

Increased (from $493M to $2,261M)

Improved bottom-line performance reflects strong operational execution, beneficial impacts from a better mix of revenues, and fewer non-recurring charges, which collectively boosted earnings attributable to common shareholders relative to the previous quarter. "