South Bow Corp. (SOBO) Financial Statements

Income statement

Metric	TTM	2025	2024	2023
Revenue
Total Revenue	2.0B	2.0B	2.1B	2.7B
Cost of Revenue	536.0M	560.0M	622.0M	465.2M
Gross Profit	1.5B	1.4B	1.5B	2.2B
Operating Expenses
R&D Expense	—	—	—	—
SG&A Expense	—	—	—	—
General & Admin Expense	—	—	—	—
Selling & Marketing Expense	—	—	—	—
Other Expenses	715.0M	711.0M	753.0M	1.3B
Total Operating Expenses	715.0M	711.0M	753.0M	1.3B
Cost and Expenses	1.3B	1.3B	1.4B	1.7B
Operating Income (EBIT)	750.0M	715.0M	745.0M	927.8M
Non-Operating
Interest Income	43.0M	41.0M	12.0M	42.4M
Interest Expense	335.0M	331.0M	388.0M	291.6M
Net Interest Income	(292.0M)	(290.0M)	(376.0M)	(249.2M)
Other Non-Op Income/Expense	(219.0M)	(218.0M)	(327.0M)	(182.9M)
Non-Operating Income (excl Interest)	(116.0M)	(113.0M)	(61.0M)	(108.7M)
EBT (Pre-Tax Income)	531.0M	497.0M	418.0M	744.9M
Income Tax Expense	71.0M	64.0M	102.0M	159.1M
Bottom Line
Net Income	460.0M	433.0M	316.0M	585.9M
Earnings from Cont. Ops	460.0M	433.0M	316.0M	585.9M
Earnings from Discont. Ops	—	—	—	—
Bottom Line Net Income	460.0M	433.0M	316.0M	585.9M
Per Share
Basic EPS	$1.72	$1.52	$1.52	$2.82
Diluted EPS	$1.72	$1.52	$1.52	$2.82
Revenue Per Share	$9.59	$9.55	$10.21	$12.80
Shares
Basic Shares Outstanding	208.6M	208.0M	207.6M	207.6M
Diluted Shares Outstanding	208.8M	208.2M	208.2M	207.6M
Profitability Metrics
EBITDA	1.1B	1.1B	1.1B	1.4B
D&A	251.0M	247.0M	246.0M	323.4M
EBIT	866.0M	828.0M	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