South Bow (SOBO) Operating Expenses (2023 - 2026)

South Bow's Operating Expenses history runs 4 years deep, the most recent figure standing at $193.0 million for Q1 2026.

• In Q1 2026, Operating Expenses rose 12.87% year-over-year to $193.0 million; the TTM figure through Mar 2026 stood at $1.3 billion (down 5.21% YoY), while the FY2025 annual figure was $1.3 billion, down 7.56% from the prior year.
• Operating Expenses was $193.0 million for Q1 2026 at South Bow, down from $736.0 million in the prior quarter.
• In the past five years, Operating Expenses ranged from a high of $798.0 million in Q4 2024 to a low of $3.0 million in Q4 2023.
• Historically, Operating Expenses has averaged $284.2 million across 4 years, with a median of $193.5 million in 2024.
• The sharpest annual moves came in 2024 and 2025: Operating Expenses jumped 26500.0% in 2024, then declined 13.4% in 2025.
• A 4-year view of Operating Expenses shows it stood at $3.0 million in 2023, then surged by 26500.0% to $798.0 million in 2024, then decreased by 7.77% to $736.0 million in 2025, then slumped by 73.78% to $193.0 million in 2026.
• The last three Operating Expenses figures came in at $193.0 million (Q1 2026), $736.0 million (Q4 2025), and $168.0 million (Q3 2025), per Business Quant data.