EnLink Midstream Q1 2024 GAAP EPS $0.03 Misses $0.13 Estimate, Sales $1.648B Miss $2.106B Estimate
Portfolio Pulse from Benzinga Newsdesk
EnLink Midstream (NYSE:ENLC) reported Q1 2024 earnings of $0.03 per share, missing the $0.13 estimate, and sales of $1.648B, missing the $2.106B estimate. This represents a 75% decrease in earnings and a 6.79% decrease in sales from the same period last year.
April 30, 2024 | 9:10 pm
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NEGATIVE IMPACT
EnLink Midstream's Q1 2024 earnings and sales significantly missed estimates, with a 75% decrease in EPS and a 6.79% decrease in sales year-over-year.
The significant miss in both earnings per share and sales compared to analyst expectations, coupled with the year-over-year decline in these metrics, is likely to negatively impact investor sentiment and the stock price in the short term. The magnitude of the miss and the comparison to last year's performance highlight operational and possibly market challenges that could concern investors.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100