Enbridge Q3: Earnings Decline On Ongoing Market Volatility, Reaffirms FY23 Outlook
Portfolio Pulse from Lekha Gupta
Enbridge Inc (ENB) reported Q3 FY23 adjusted EPS of C$0.62, lower than C$0.67 a year ago. However, in USD terms, EPS of $0.46 beat the consensus of $0.44. Sales of $7.34 billion missed the consensus of $8.25 billion. Adjusted EBITDA rose 3% Y/Y to C$3.9 billion. ENB also inked a deal with Dominion Energy Inc (D) to acquire several companies for $14 billion and seven operating landfill-to-renewable natural gas assets for $1.2 billion. ENB reaffirmed its 2023 outlook.
November 03, 2023 | 1:37 pm
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POSITIVE IMPACT
Enbridge's Q3 earnings declined but beat consensus in USD terms. The company also made significant acquisitions and reaffirmed its 2023 outlook.
Despite a decline in earnings, Enbridge beat the consensus in USD terms, which is a positive sign. The company also made significant acquisitions, indicating growth and expansion. The reaffirmation of its 2023 outlook suggests confidence in its future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Dominion Energy Inc was involved in a deal with Enbridge, where Enbridge acquired several companies for $14 billion.
Dominion Energy's involvement in the deal with Enbridge could have various impacts. The sale of several companies could free up resources for Dominion, but it also means losing assets. The impact on the stock price will depend on how investors interpret this move.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50