ENLC Earnings Prediction
The chart below shows how ENLC performed 10 days before and after its earnings report, based on data from the past quarters. Typically, ENLC sees a -1.11% change in stock price 10 days leading up to the earnings, and a +0.55% change 10 days following the report. On the earnings day itself, the stock moves by +0.27%. This data can give you a slight idea of what to expect for the next quarter's release.
ENLC Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
1.55B
2.18%
-7.45%
Gross Margin
21.05%
-4.41%
-2.27%
Operating Margin
9.10%
-18.60%
-0.55%
Net Margin
4.32%
-27.03%
44.97%
EPS
0.07
-41.67%
133.33%
No Data Available
ENLC Earnings Analysis
EnLink Midstream, LLC Corporation (ENLC.N) Earnings Conference Call
Positive
Generated $306 million of adjusted EBITDA, driven by the Tiger II plant going into service in the Permian, normal seasonality in Louisiana, and the return of impacted volumes, leading to solid free cash flow after distributions of approximately $53 million.
Adjusted EBITDA guidance range of $1.31 billion to $1.41 billion for full year 2024, tracking close to the midpoint.
Maintained common unit distribution at $0.1325 per unit in the second quarter, representing a 6% increase over the second quarter of 2023.
Repurchased approximately $50 million of units in the second quarter, totaling over 10% of total units outstanding since the end of 2021.
Reduced Series B preferred stock outstanding by about half since the beginning of 2024 through a proactive balance sheet simplification step, purchasing nearly $200 million of the stock.
Successfully brought online the third relocated processing plant in the Permian, Tiger II, showcasing efficient capital allocation with significant cost savings and shorter period-to-end service compared to new build alternatives.
Segment profit for the Permian grew 10% sequentially and 10% from the prior year quarter, reaching $93.1 million in the second quarter of 2024.
Average natural gas gathering volumes increased approximately 7% sequentially and 17% compared to the prior year quarter, with diverse mix of producers remaining active.
Expanded natural gas storage assets in Louisiana with the announcement of the first expansion of the Jefferson Island Storage Hub (JISH), increasing total natural gas storage capacity to nearly 20 Bcf.
JISH working gas storage capacity set to expand to approximately 10 Bcf from 2 Bcf today, representing low to mid-single-digit EBITDA multiples and generating attractive returns.
In total, EnLink increased its total natural gas storage position to nearly 20 Bcf, responding to the evolving market demand and creating value for unitholders.
Negative
- Reported segment profit in the Louisiana segment decreased approximately 39% sequentially and 9% compared to the prior year quarter, driven by seasonality and outsized results in the first quarter due to weather-related activity.
- Total natural gas gathering volumes in North Texas decreased by 8% compared to the prior year quarter, impacting segment profit which decreased by 28%.
- Despite solid results in certain segments, overall segment profit for the Louisiana, North Texas, and Oklahoma segments either decreased sequentially or compared to the prior year quarter, indicating some challenges in those areas.
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ENLC Earning Call Sentiment
EnLink Midstream, LLC (ENLC) Q2 2024 Earnings Call Transcript
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ENLC.N
0%Positive
The earnings call summary indicates a positive sentiment with strong shareholder returns, including a 6% increase in common unit distribution and expanded repurchase authorization. Despite some regional profit declines, the overall financial performance remains stable with strong EBITDA and free cash flow. The Q&A section reveals optimism in future projects and a well-utilized Tiger 2 plant. However, some concerns exist regarding the CCS market's maturity, which is offset by positive developments in the Permian and Louisiana. Overall, the positive aspects outweigh the negatives, suggesting a positive stock price movement.
