South Bow Corporation (SOBO) Financial Statements

Income statement

Metric	TTM	2025	2024	2023
Revenue
Total Revenue	1.6B	1.6B	2.1B	2.7B
Cost of Revenue	992.2M	1.3B	622.0M	465.2M
Gross Profit	653.8M	309.3M	1.5B	2.2B
Operating Expenses
R&D Expense	—	—	—	—
SG&A Expense	—	—	—	—
General & Admin Expense	—	—	—	—
Selling & Marketing Expense	—	—	—	—
Other Expenses	169.2M	(8.1M)	753.0M	1.3B
Total Operating Expenses	169.2M	(8.1M)	753.0M	1.3B
Cost and Expenses	1.2B	1.3B	1.4B	1.7B
Operating Income (EBIT)	484.5M	317.5M	745.0M	927.8M
Non-Operating
Interest Income	38.6M	40.7M	12.0M	42.4M
Interest Expense	311.4M	336.8M	388.0M	291.6M
Net Interest Income	(272.8M)	(296.1M)	(376.0M)	(249.2M)
Other Non-Op Income/Expense	18.1M	188.2M	(327.0M)	(182.9M)
Non-Operating Income (excl Interest)	(329.5M)	(525.0M)	(61.0M)	(108.7M)
EBT (Pre-Tax Income)	502.6M	505.7M	418.0M	744.9M
Income Tax Expense	67.5M	65.1M	102.0M	159.1M
Bottom Line
Net Income	435.1M	440.6M	316.0M	585.9M
Earnings from Cont. Ops	435.1M	440.6M	316.0M	585.9M
Earnings from Discont. Ops	—	—	—	—
Bottom Line Net Income	435.1M	440.6M	316.0M	585.9M
Per Share
Basic EPS	$2.08	$2.12	$1.52	$2.82
Diluted EPS	$2.08	$2.11	$1.52	$2.82
Revenue Per Share	$7.89	$7.74	$10.20	$12.80
Shares
Basic Shares Outstanding	208.6M	208.2M	207.9M	207.6M
Diluted Shares Outstanding	208.8M	208.8M	208.2M	207.6M
Profitability Metrics
EBITDA	1.0B	1.1B	1.1B	1.4B
D&A	233.0M	251.3M	246.0M	323.4M
EBIT	814.1M	842.5M	806.0M	1.0B

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Jun 1, 2026