South Bow reported quarterly EPS of C$0.47, beating the C$0.42 estimate. That makes four quarters in a row above estimates. The next question is whether its outlook and contracted pipeline business can sustain growth.
South Bow Corporation (TSX: SOBO) released results after market close on November 4 for the quarter ended September 30, 2026. Calendar data shows EPS of C$0.47, 11.9% above the C$0.42 estimate. The company also reported US$503 million in revenue and US$99 million in net income. Its release included updated 2026 distributable cash flow guidance and a 2027 normalized EBITDA projection. For Canadian investors, the earnings beat is encouraging, but the outlook, dividend and delivery on long-term transportation commitments matter too. See the South Bow stock page for more company and share information.
Recent earnings trend
South Bow Corporation
SOBO.TO
SOBO.TO
South Bow Corporation
WealthAwesomeMarket cap
$9.50B
P/E
15.3x
Div. yield
4.55%
Div. / share
$2.00
52W high
$54.09
52W low
$34.23
1W change
-7.19%
Beta
0.98
Analyst Price Targets
Based on analyst covering SOBO · as of Nov 10, 2026
Wall Street analysts forecast SOBO stock price to rise 10.4% over the next 12 months.
Consensus
Moderately BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$50.30
+10.4% Upside
Previously C$50.65 on Nov 9, 2026
Current Price
C$45.54
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on SOBO's historical volatility
30-Day Vol
31.1%
Annualized
90-Day Vol
25.2%
Annualized
Trend (90d)
-41.7%
Annualized drift
90d Mean
C$39.23
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$43.33 | C$38.92 – C$48.25 |
| 60 trading days | C$41.23 | C$35.42 – C$47.99 |
| 90 trading days | C$39.23 | C$32.57 – C$47.25 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 6 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 4 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-12-31 | 2027-03-04 | — | 0.4400 | — |
| 2026-09-30 | 2026-11-04 | 0.4700 | 0.4200 | +11.9% |
| 2026-06-30 | 2026-08-05 | 0.5000 | 0.4300 | +16.3% |
| 2026-03-31 | 2026-05-07 | 0.4400 | 0.4300 | +2.3% |
| 2025-12-31 | 2026-03-05 | 0.6100 | 0.4000 | +52.5% |
| 2025-09-30 | 2025-11-13 | 0.4700 | 0.3800 | +23.7% |
Investor takeaway: South Bow beat the calendar EPS estimate by 11.9%, its fourth straight beat in the reported comparable-quarter series. Revenue, net income and the updated cash flow and EBITDA outlook add context to the headline result. But the share price closed at C$45.54, below its 50-day and 200-day moving averages, and the supplied statistical forecast points lower over the next 90 days. Weigh the operating outlook and dividend against market and project risks. One quarterly beat does not guarantee future returns.
C$0.47 EPS, 11.9% above estimate
South Bow’s reported calendar EPS of C$0.47 was C$0.05 above the C$0.42 estimate. It was also the fourth straight beat in the supplied four-quarter history. Consider the result alongside the company’s US$503 million in revenue, US$99 million in net income and updated outlook, rather than as a standalone measure of performance.
Bull case
South Bow has beaten quarterly EPS estimates four quarters in a row. Its latest result of C$0.47 topped the C$0.42 estimate. The company reported quarterly revenue of US$503 million and net income of US$99 million, and raised its 2026 distributable cash flow guidance. Its projected 2027 normalized EBITDA of about US$1.07 billion gives investors a forward measure of operating performance. South Bow has also announced 20-year binding transportation commitments from Hardisty, Alberta, to U.S. delivery points for its proposed Prairie Connector project. The stated dividend yield is 4.55%, but yield alone does not show whether the dividend is sustainable.
Bear case
An EPS beat does not eliminate execution or market risks. Calendar trend data shows year-ago EPS of C$0.47 and estimated EPS growth of -7.5% for the reported period, despite estimated revenue growth of 7.6%. South Bow’s last close of C$45.54 was below its 50-day average of C$49.17 and its 200-day average of C$48.04. The proposed Prairie Connector also depends on successful execution, and the supplied information does not specify its costs or timeline. Review the company’s full release and filings before drawing conclusions about cash flow, capital needs or dividend coverage.
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