ENLINK MIDSTREAM Reports Second Quarter Earnings Results for FY2023
August 7, 2023
🌥️Earnings Overview
ENLINK MIDSTREAM ($NYSE:ENLC) announced their earnings results for the second quarter of FY2023, ending June 30, 2023, with total revenue at USD 1530.1 million, a decrease of 41.2% compared to the same quarter in FY2022. Net income for the quarter totaled USD 54.3 million, a decrease of 36.3% compared to the prior year.
Stock Price
The company’s stock opened at $11.5 and closed at $11.4, a decrease of 1.5% from the prior closing price of $11.6. Overall, ENLINK MIDSTREAM continued to demonstrate growth in earnings and revenues during the second quarter of FY2023. This marks the second consecutive quarter of increased earnings, which is a positive indicator for the company’s future prospects. Additionally, the decrease in stock price is likely due to market volatility, rather than a reflection on the company’s performance. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Enlink Midstream. More…
| Total Revenues | Net Income | Net Margin |
| 7.95k | 353.3 | 4.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Enlink Midstream. More…
| Operations | Investing | Financing |
| 1.15k | -872.8 | -245 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Enlink Midstream. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 8.4k | 5.63k | 2.49 |
Key Ratios Snapshot
Some of the financial key ratios for Enlink Midstream are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 21.2% | 18.0% | 8.7% |
| FCF Margin | ROE | ROA |
| 9.3% | 36.2% | 5.2% |
Analysis
At GoodWhale, we have conducted an analysis of ENLINK MIDSTREAM‘s fundamentals and assigned a Risk Rating of medium. This means that, in terms of financial and business aspects, it is a moderate risk investment. We have further identified one risk warning from the income sheet, which may be worth considering for any potential investor. If you are registered with GoodWhale, you can view this warning and take into account the potential risks. More…
Peers
The company has a large network of pipelines and facilities that span across the United States. EnLink Midstream LLC is a publicly traded company that is headquartered in Dallas, Texas. The company was founded in 2014 and it is a subsidiary of Devon Energy Corporation. EnLink Midstream LLC operates through two business segments: EnLink Gathering & Processing and EnLink Transportation. The company has a workforce of over 2,000 employees. EnLink Midstream LLC’s main competitors are Fluxys Belgium SA, Hess Midstream LP, and Kinetik Holdings Inc. These companies are all similar to EnLink Midstream LLC in that they are involved in the transportation and processing of crude oil and natural gas.
– Fluxys Belgium SA ($LTS:0Q7U)
Fluxys Belgium SA is a leading provider of gas transportation and storage services in Belgium. The company has a market capitalization of 2.23 billion and a return on equity of 14.4%. Fluxys Belgium SA is the largest provider of natural gas storage services in Belgium and one of the largest providers of gas transportation services in the country. The company operates a network of gas pipelines and storage facilities that span over 2,000 kilometers.
– Hess Midstream LP ($NYSE:HESM)
Hess Midstream LP is a midstream energy company that owns, operates, develops and acquires pipelines and other midstream assets. The company has a market cap of 1.2B as of 2022 and a Return on Equity of 208.88%. The company’s assets are located in the Bakken Shale in North Dakota and the Permian Basin in Texas. Hess Midstream LP is engaged in the transportation, storage and processing of crude oil and natural gas. The company’s pipelines transport crude oil and natural gas from production areas to refining centers and end-use markets.
Summary
ENLINK MIDSTREAM reported a decline in total revenue and net income for the second quarter of FY2023. The total revenue was USD 1530.1 million, a decrease of 41.2% compared to the same period in the prior year. Net income for the quarter was USD 54.3 million, a decrease of 36.3%.
This may suggest a weakening demand for ENLINK MIDSTREAM products and services, which could impact the company’s ability to generate profits in the future. Investors should pay close attention to ENLINK MIDSTREAM’s financial performance to determine whether the company is taking steps to ensure long-term success.
Related Posts
Recent Posts
