South Bow Corporation (SOBO)

South Bow Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023
Revenue	2,074	2,120	2,005
Revenue Growth (YoY)	-3.04%	5.74%	-
Cost of Revenue	1,104	1,111	1,058
Gross Profit	970	1,009	947
Selling, General & Admin	3	3	3
Other Operating Expenses	18	15	-
Operating Expenses	268	264	247
Operating Income	702	745	700
Interest Expense	-375	-388	-220
Interest & Investment Income	40	41	34
Earnings From Equity Investments	50	49	50
Currency Exchange Gain (Loss)	-3	-3	-2
EBT Excluding Unusual Items	412	444	562
Other Unusual Items	-26	-26	-
Pretax Income	386	418	562
Income Tax Expense	94	102	120
Net Income	292	316	442
Net Income to Common	292	316	442
Net Income Growth	-36.24%	-28.51%	-
Shares Outstanding (Basic)	208	208	208
Shares Outstanding (Diluted)	208	208	208
Shares Change (YoY)	0.42%	0.29%	-
EPS (Basic)	1.41	1.52	2.13
EPS (Diluted)	1.40	1.52	2.13
EPS Growth	-36.51%	-28.61%	-
Free Cash Flow	400	407	742
Free Cash Flow Per Share	1.92	1.96	3.57
Dividend Per Share	1.000	0.500	-
Gross Margin	46.77%	47.59%	47.23%
Operating Margin	33.85%	35.14%	34.91%
Profit Margin	14.08%	14.91%	22.05%
Free Cash Flow Margin	19.29%	19.20%	37.01%
EBITDA	949	991	944
EBITDA Margin	45.76%	46.74%	47.08%
D&A For EBITDA	247	246	244
EBIT	702	745	700
EBIT Margin	33.85%	35.14%	34.91%
Effective Tax Rate	24.35%	24.40%	21.35%

Updated Mar 6, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q