ENLC Earnings

ENLC reported its FY2024Q2 earnings on 2024-08-06, showcasing a revenue of 1.55B against an estimate of 1.91B, resulting in a -18.56% surprise. The EPS was 0.07, surpassing the expected 0.12 by -41.67% . The stock experienced a 2.7% price change on the earnings day and a -5.33% change over the next five days, reflecting market reactions to the results.

Following ENLC's FY2024Q2 earnings announcement on 2024-08-06, the stock price moved by 2.70% on the day of the release. Over the subsequent five days, it saw a -5.33% change. Historically, ENLC's stock price tends to shift by an average of -1.11% in the 10 days leading up to earnings and +0.55% in the 10 days following, providing insight into potential market.

For 2024/Q4, analysts estimate ENLC’s annual revenue to reach 2.04B, while the EPS is projected at undefined. These estimates reflect recent revisions, with revenue estimates revised Revenue No Change by 0% and EPS estimates No Change by % over the past three months, indicating analyst expectation in the company’s performance.

The correlation between ENLC's stock price and earnings forecast revisions shows that positive revisions in revenue or EPS often strengthen the stock’s fundamentals. Over the past three months, revenue estimates for FY2024 were No Change by 0%, while EPS estimates moved No Change by % . This trend suggests that price dips could present buying opportunities for investors.

Based on historical trends, ENLC's stock price typically moves by -1.11% in the 10 days before its earnings and +0.55% in the 10 days after. For the upcoming 2024/Q4 earnings, analysts expect an EPS of undefined and revenue of 2.04B.

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.