Enbridge Q2 2024 Adj. EPS C$0.58 Misses C$0.64 Estimate, Commodity Sales C$5.291B Miss C$5.713B Estimate
Portfolio Pulse from Benzinga Newsdesk
Enbridge (NYSE:ENB) reported Q2 2024 adjusted EPS of C$0.58, missing the consensus estimate of C$0.64 by 9.38%. Quarterly sales were C$5.291 billion, also missing the estimate of C$5.713 billion by 7.39%. Despite the misses, sales increased by 13.08% year-over-year.
August 02, 2024 | 11:09 am
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NEGATIVE IMPACT
Enbridge's Q2 2024 earnings and sales both missed analyst estimates, with EPS at C$0.58 missing by 9.38% and sales at C$5.291 billion missing by 7.39%. Despite these misses, sales increased by 13.08% year-over-year.
The misses on both EPS and sales estimates are likely to negatively impact Enbridge's stock price in the short term. However, the year-over-year sales increase may provide some support.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100