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EnLink Midstream LLC (ENLC)
NYSE:ENLC
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Earnings Data
Report Date
Feb 18, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.19Last Year’s EPS
$0.14Same Quarter Last Year
Based on 7 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2024
|% Change Since: -9.21%
|Next Earnings Date:Feb 18, 2025
Earnings Call Sentiment|Positive
The earnings call presented a generally positive outlook with strong adjusted EBITDA performance, strategic expansions, and proactive capital structure management. However, challenges remain in the CCS business development and certain regional segment profits.Company Guidance
During the EnLink Midstream Q2 2024 earnings call, the company provided guidance on several key metrics. The quarter saw the generation of $306 million in adjusted EBITDA, primarily driven by the Tiger II plant in the Permian and normal seasonal activity in Louisiana. Free cash flow after distributions was approximately $53 million. EnLink also repurchased around $50 million in units, marking over 10% of unit buybacks in a little more than two years. The company maintained its leverage ratio at 3.3x and confirmed its full-year adjusted EBITDA guidance range of $1.31 billion to $1.41 billion, indicating a performance weighted towards the fourth quarter. With an ongoing focus on capital returns, EnLink expanded its common unit repurchase authorization to $250 million.Strong Adjusted EBITDA Performance
Generated $306 million of adjusted EBITDA for Q2 2024, driven by the Tiger II plant going into service in the Permian and returning volume affected by weather.
Successful Capital Return and Buyback
Repurchased approximately $50 million of units outstanding, bringing total buyback execution to more than 10% over two years while continuing investments.
Expansion of Natural Gas Storage
Announced the first expansion of natural gas storage assets in Louisiana. The Jefferson Island Storage Hub will expand to approximately 10 Bcf with a cost of about $85 million.
Proactive Balance Sheet Simplification
Significantly reduced Series B preferred stock outstanding, simplifying capital structure.
Permian and Oklahoma Volume Growth
Permian segment profit grew 10% sequentially with a 17% increase in natural gas gathering volumes. Oklahoma saw a 14% sequential increase in segment profit.
Strong Free Cash Flow
Achieved approximately $53 million in free cash flow after distributions for Q2 2024.
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ENLC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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ENLC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $15.52 | $15.50 | -0.13% |
| Aug 06, 2024 | $12.79 | $11.92 | -6.80% |
| Apr 30, 2024 | $13.46 | $12.63 | -6.17% |
| Feb 20, 2024 | $12.14 | $11.88 | -2.14% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does EnLink Midstream LLC (ENLC) report earnings?
EnLink Midstream LLC (ENLC) is schdueled to report earning on Feb 18, 2025, TBA Not Confirmed.
What is EnLink Midstream LLC (ENLC) earnings time?
EnLink Midstream LLC (ENLC) earnings time is at Feb 18, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ENLC EPS forecast?
ENLC EPS forecast for the fiscal quarter 2024 (Q4) is $0.19.
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