ENBRIDGE INC
For the period ended Mar 31, 2026. Filed May 8, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 8, 2026
ENB$47.40+1.1%Stored close · as of Nov 9, 2026
What changed in Risk Factors?
Read the current filingPrevious report: 10-Q
Period ended 2025-09-30; filed 2025-11-07.
0001193125-25-270991
Item 1A. Risk FactorsUnregistered Sales of Equity Securities and Use of ProceedsDefaults Upon Senior SecuritiesMine Safety DisclosuresCurrent report: 10-Q
Period ended 2026-03-31; filed 2026-05-08.
0001193125-26-213266
Item 1A. Risk FactorsUnregistered Sales of Equity Securities and Use of ProceedsDefaults Upon Senior SecuritiesMine Safety DisclosuresThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 15 previous paragraphs and 19 current paragraphs.
10 unchanged; 5 reworded; 3 added; 0 removed; 0 previous and 1 current paragraphs rearranged.
Tables are not compared: 0 previous and 0 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (3)
Current report
Terrorist attacks and threats, escalation of military activity in response to these attacks or acts of war, other civil unrest or activism, or geopolitical uncertainty could adversely affect our business, operations or financial results.
Current report
Terrorist attacks and threats (which may take the form of cyber attacks), escalation of military activity, armed hostilities, war, sabotage, or civil unrest or activism may disrupt general economic conditions, cause fluctuations in consumer confidence and spending, and affect market liquidity, all of which could negatively impact our business. Future terrorist attacks, rumors or threats of war, actual conflicts involving the US or Canada, civil unrest or military, trade, or commodity supply and demand disruptions may significantly affect our operations and those of our customers. Strategic critical infrastructure, including energy-related assets, face heightened risk of cyber or physical attacks. Our assets and projects under construction could be direct targets or indirect casualties of such an attack.
Current report
In addition, increased environmental activism against energy infrastructure could lead to work delays, reduced demand for our services, new or stricter legislation or public policy, or denial or delay of permits and rights-of-way. We also face risks related to international relations and geopolitical events, including military escalation in key energy-producing regions such as Venezuela, Iran and the Middle East. Factors such as political, economic, or social instability, trade disputes, increased tariffs, legal and regulatory changes, disruption of international shipping routes and shifts in political leadership can lead to volatility in commodity prices and affect energy availability and costs.
Reworded paragraphs (5)
Previous wording
The effects of US, Canadian and other governments' policies on tariffs and trade relations remain uncertain and could significantly adversely impact our business, operations or financial results.
Current wording
The effects of US, Canadian and other governments' policies on tariffs and trade relations are uncertain and could adversely impact our business, operations or financial results.
Previous wording
The announcement and imposition of tariffs by the US, together with potential, announced or implemented retaliatory tariffs by other governments on imports from the US, and other potential measures, including duties, fees, economic sanctions or other trade measures, as well as the potential impacts of these tariffs and trade measures, present significant risks to our business operations and financial results. Tariffs announced by the US, which are in addition to any pre-existing tariffs and may impact our business operations, include, among others (as of the date of this report):
Current wording
The announcement and imposition of tariffs by the US, together with potential, announced or implemented retaliatory tariffs by other governments on imports from the US, and other potential measures, including duties, fees, economic sanctions or other trade measures, as well as the potential impacts of these tariffs and trade measures, present significant risks to our business operations and financial results. Tariffs announced by the US (which are in addition to any pre-existing tariffs) which may impact our business operations include, among others:
Previous wording
tariff on Canadian goods that are non-compliant under the United States-Mexico-Canada Agreement (USMCA), excluding crude oil, natural gas, and natural gas liquids; and
Current wording
tariff on Canadian goods that are non-compliant under the United States-Mexico-Canada Agreement (USMCA) (excludes crude oil, natural gas and natural gas liquids);
Previous wording
Several of the US tariff announcements have been followed by announcements of limited exemptions and temporary pauses on implementation dates. In response to the US tariff announcements, certain governments have announced retaliatory measures against the US and/or are in the process of negotiating with the US on tariff agreements. These announcements have led to significant uncertainty and market volatility during the first three quarters of 2025. If maintained, such trade measures, the nature, extent and timing of which are uncertain, and the potential for escalation of trade disputes, including retaliatory measures, could lead to, among other things, worsening of macroeconomic conditions, inflationary pressures, increased construction costs, costs to maintain our assets and other costs and expenses, as well as potential reductions in demand for Canadian energy. The measures also introduce uncertainty in North American energy and capital markets and have the potential to disrupt supply chains and access to capital markets and jeopardize our competitiveness. The US Government has also stated its interest in renegotiating and altering the USMCA, which could further impact the energy market and our business.
Current wording
If maintained, such trade measures, the nature, extent and timing of which are uncertain, and the potential for escalation of trade disputes, including retaliatory measures, could lead to, among other things, worsening of macroeconomic conditions, inflationary pressures, increased construction costs, costs to maintain our assets and other costs and expenses, as well as to potential reductions in demand for US and/or Canadian energy. The measures also introduce uncertainty in North American energy and capital markets and have the potential to disrupt supply chains and access to capital markets and jeopardize our competitiveness. The US Government has also stated its interest in renegotiating and altering the USMCA, which could further impact the energy market and our business.
Rearranged current paragraphs (1)
Current report — wording carried from elsewhere
Several of the US tariff announcements have been followed by announcements of limited exemptions, temporary pauses on implementation dates and litigation. In response to the US tariff announcements, certain governments have threatened or announced retaliatory measures against the US and/or are in the process of negotiating with the US on tariff agreements. In addition, while in February 2026, the US Supreme Court ruled that the US President did not have authority to impose certain tariffs and trade measures on an "emergency" basis, the US administration is pursuing other means of imposing tariffs. These announcements and activities have led to significant uncertainty and market volatility.