South Bow (SOBO.TO, SOBO) edged up 1.3% in after-hours trading in the US on Wednesday after reporting Q2 normalized net income of $0.50 per share, or $104 million, compared with $0.42 per share, or $87 million, in the prior-year period.
The result topped the FactSet consensus estimate of normalized earnings of $0.44 per share.
Revenue for the three months ended June 30 rose to $546 million from $524 million in the prior-year period, exceeding the FactSet consensus estimate of $497 million.
The company also declared a quarterly dividend of $0.50 per share, payable on Oct. 15 to shareholders of record at the close of business on Sept. 29.
In its outlook, the company increased its 2026 normalized EBITDA guidance to $1.0 billion, and also boosted its 2026 growth capital expenditures guidance to approximately $80 million.
In management changes, company announced Hal Kvisle has stepped down as chair of the board and George Lewis has been appointed chair, effective immediately. Kvisle will continue to serve as a director of South Bow and has been appointed chair of the governance and risk committee.
Shares of the company surged $0.5 at $35.9 at last look in after-market trade. They closed down C$1.1 at C$49.8 on Toronto Stock Exchange on Wednesday.