Enbridge Posts Higher Q2 EPS, Reaffirms 2023 And Medium-Term Guidance
Portfolio Pulse from Lekha Gupta
Enbridge Inc (NYSE:ENB) reported Q2 2023 adjusted EPS of C$0.68, higher than C$0.67 a year ago. Adjusted EBITDA rose 8% Y/Y to C$4.0 billion, led by contributions from a higher stake in the Gray Oak Pipeline and the Cactus II Pipeline. Cash flow from operating activities increased to C$3.4 billion from C$2.5 billion in the prior year. The company also repurchased and cancelled common shares of around 2.5 million. Enbridge reiterated its 2023 outlook, expecting adjusted EBITDA of C$15.9 billion-C$16.5 billion and DCF per share of C$5.25-C$5.65.
August 04, 2023 | 3:38 pm
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Enbridge reported higher Q2 2023 EPS and reaffirmed its 2023 and medium-term guidance. The company's adjusted EBITDA rose 8% Y/Y, and it repurchased and cancelled around 2.5 million common shares.
Enbridge's higher Q2 EPS and reaffirmed guidance indicate a strong financial performance, which is likely to boost investor confidence and potentially drive the stock price up in the short term. The company's share repurchase also signals its confidence in its own stock, which could further positively impact the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100