South Bow Corporation (SOBO) Releases Q1 2026 Earnings: Revenue Down 1.41%, EPS Down 11.9%

South Bow Corporation (SOBO) reported first-quarter 2026 results. Total revenue came in at $491 million (down 1.41% year-over-year). Key profitability metrics included:

Gross profit: $417 million (+0.72% year-over-year)

Operating profit: $160 million (down 10.11% year-over-year)

Net income attributable to common shareholders: $77 million (down 12.5% year-over-year)

Diluted earnings per share: $0.37 (down 11.9% year-over-year)

Balance sheet and cash-flow highlights:

Cash from operating activities: $186 million (+48.8% year-over-year)

Purchases of property, plant and equipment: $27 million (down 15.62% year-over-year)

Cash and cash equivalents: $599 million (+53.59% year-over-year)

Total liabilities: $8.58 billion (+0.05% year-over-year)

Cost of sales: $74 million (down 11.9% year-over-year)

Note: This financials data is sourced from a third-party provider and has not been independently verified by Quiver.

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South Bow Corporation Hedge Fund Activity

We have seen 109 institutional investors add shares of South Bow Corporation stock to their portfolio, and 136 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

ROYAL BANK OF CANADA removed 5,994,200 shares (-26.5%) from their portfolio in Q4 2025, for an estimated $164,660,674
FMR LLC removed 3,570,347 shares (-26.2%) from their portfolio in Q4 2025, for an estimated $98,077,432
PRICE T ROWE ASSOCIATES INC /MD/ removed 2,676,370 shares (-29.3%) from their portfolio in Q4 2025, for an estimated $73,519,883
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND removed 1,950,000 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $53,566,500
BLACKSTONE INC. removed 1,461,311 shares (-67.3%) from their portfolio in Q4 2025, for an estimated $40,142,213
THORNBURG INVESTMENT MANAGEMENT INC added 832,574 shares (+41.7%) to their portfolio in Q4 2025, for an estimated $22,870,807
BANK OF AMERICA CORP /DE/ removed 734,745 shares (-31.2%) from their portfolio in Q4 2025, for an estimated $20,183,445

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API.

South Bow Corporation Analyst Ratings

Wall Street analysts have issued reports on $SOBO in the last several months. We have seen 0 firms issue buy ratings on the stock, and 2 firms issue sell ratings.

Here are some recent analyst ratings:

Wolfe Research issued a "Underperform" rating on 01/14/2026
Wells Fargo issued a "Underweight" rating on 11/20/2025

To track analyst ratings and price targets for South Bow Corporation, check out Quiver Quantitative's $SOBO forecast page.

South Bow Corporation Price Targets

Multiple analysts have issued price targets for $SOBO recently. We have seen 10 analysts offer price targets for $SOBO in the last 6 months, with a median target of $38.0.

Here are some recent targets:

Aaron Macneil from TD Cowen set a target price of $44.0 on 05/01/2026
John Mackay from Goldman Sachs set a target price of $29.0 on 04/20/2026
Aaron Macneil from TD Securities set a target price of $42.0 on 03/18/2026
Praneeth Satish from Wells Fargo set a target price of $37.0 on 03/13/2026
Maurice Choy from RBC Capital set a target price of $48.0 on 03/09/2026
Theresa Chen from Barclays set a target price of $33.0 on 03/09/2026
Robert Hope from Scotiabank set a target price of $34.0 on 03/06/2026