EnLink Midstream LLC reports results for the quarter ended in June - Earnings Summary

EnLink Midstream LLC

07/08/2024 24:03

* EnLink Midstream LLC  ENLC.N  reported quarterly adjusted
earnings of 7 cents​​ per share for the quarter ended in June,
lower than the same quarter last year, when the company reported
EPS of 12 cents.  The mean expectation of nine analysts for the
quarter was for earnings of 13 cents per share. Wall Street
expected results to range from 11 cents to 18 cents per share.
    * Revenue rose 1.4% to $1.55 billion from a year ago;
analysts
expected $1.90 billion. 
    * EnLink Midstream LLC's reported EPS for the quarter was 8
cents​.
    * The company reported quarterly net income of $38.1
million.
    * EnLink Midstream LLC shares had fallen by 8.6% this
quarter and
gained 3.4% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 2.5%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 8 "strong buy" or "buy," 4
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the oil & gas
transportation services peer group is also "buy"

Wall Street's median 12-month price target for EnLink Midstream
LLC is $15.00 
This summary was machine generated from LSEG data August 6 at
11:02 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.13           0.07           Missed
 Mar. 31 2024      0.13           0.06           Missed
 Dec. 31 2023      0.15           0.14           Missed
 Sep. 30 2023      0.13           0.06           Missed