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CENBRIDGE NEWS RELEASE Enbridge Reports Strong Second Quarter 2021 Financial Results and Advances Strategic Priorities CALGARY , July 30 , 2021 / CNW / - Enbridge Inc. ( Enbridge or the Company ) ( TSX : ENB ) ( NYSE : ENB ) today reported second quarter 2021 financial results , reaffirmed its 2021 financial outlook , and provided a mid - year business update . Highlights ( all financial figures are unaudited and in Canadian dollars unless otherwise noted ) • • • • • • • Second quarter GAAP earnings of $ 1.4 billion or $ 0.69 per common share , compared with GAAP earnings of $ 1.6 billion or $ 0.82 per common share in 2020 Adjusted earnings of $ 1.4 billion or $ 0.67 per common share , compared with $ 1.1 billion or $ 0.56 per common share in 2020 Adjusted earnings before interest , income taxes and depreciation and amortization ( EBITDA ) of $ 3.3 billion , compared with $ 3.3 billion in 2020 Cash Provided by Operating Activities of $ 2.2 billion , compared with $ 2.4 billion in 2020 Distributable Cash Flow ( DCF ) of $ 2.5 billion or $ 1.24 per common share , compared with $ 2.4 billion or $ 1.21 per common share in 2020 Reaffirmed 2021 full year guidance range of EBITDA of $ 13.9 billion to $ 14.3 billion and DCF per share of $ 4.70 to $ 5.00 Construction of the final leg of the U.S. Line 3 Replacement Project is progressing on schedule with an expected fourth quarter in - service date Placed initial phases of the $ 1.0 billion T - South Expansion and $ 0.5 billion Spruce Ridge projects into service ; both projects expected to be fully in - service in the fourth quarter Announced collaboration with the Government of Ontario to expand natural gas access to rural , northern and Indigenous communities Announced development of Ridgeline Expansion Project in Tennessee to provide affordable and reliable natural gas power generation to displace higher carbon coal generation Advancing the US $ 2.1 billion multi - year Gas Transmission modernization program Announced plans to file a rate case on Texas Eastern with rates effective in early 2022 , ensuring the system continues to earn an appropriate rate of return on invested capital Construction on three French offshore wind projects progressing well , which will collectively generate 1.4 GW ( 0.3 GW net ) of renewable power once placed into service Continued development of solar self - power program in both Liquids Pipelines and Gas Transmission ; 3 facilities in operation and 4 more under construction Announced the $ 1.14 billion sale of Enbridge's interest in Noverco Inc. ( Noverco ) , which is expected to close by early 2022 , providing increased financial flexibility Received Moody's upgrade to Baa1 for Enbridge Inc .; All four agencies ' ratings are BBB + , or equivalent , reflecting Enbridge's sector leading financial strength and cash flow resiliency 1