CALGARY – Crude pipeline operator South Bow Corp. says its first-quarter net income dropped to US$77 million during the first three months of the year, down from US$88 million during the same period of 2025.
The profit amounted to 37 cents US per share versus a year-earlier 42 cents US.
South Bow, which keeps its books in U.S. dollars, reported its revenue fell to US$491 million from US$498 million.
The company, which spun off from TC Energy in 2024, operates the Keystone system connecting the Alberta oilsands to refineries in the U.S. Midwest and Gulf Coast.
South Bow is weighing whether there is shipper interest in a project called Prairie Connector that would add to its U.S.-bound network, using existing pipe from the defunct Keystone XL expansion project from years ago.
U.S. President Donald Trump has granted a permit to a U.S. pipeline proposal running from Wyoming to the Canada-U.S. border that could link up with South Bow’s project.
South Bow closed bids for its Prairie Connector proposal on March 30 and a 60-day evaluation period is underway to determine if there is enough commercial support to proceed. It solicited commitments for long-term service from Hardisty, Alta., to multiple U.S. destinations, including a massive storage hub at Cushing, Okla., and the world’s biggest refining complex on the U.S. Gulf Coast.
This report by The Canadian Press was first published May 7, 2026.
Companies in this story: (TSX:SOBO)
