Enbridge (ENB) Misses Q2 EPS by 5c; offers outlook

Enbridge (NYSE: ENB) reported Q2 EPS of Cdn$0.58, Cdn$0.05 worse than the analyst estimate of Cdn$0.63.

OUTLOOK

The Company has recast its 2024 financial guidance. Adjusted EBITDA is expected to be between $17.7 billion to $18.3 billion (previously $16.6 billion to $17.2 billion). The DCF per share guidance range of $5.40 to $5.80 is maintained.

Relative to Enbridge's previous guidance, announced November 28, 2023, the Company's recast guidance for 2024 adds incremental contributions from the two U.S. gas Acquisitions that have closed and assumes a Q3 closing for PSNC. It also now includes the impact of the pre-funding of the Acquisitions, which was completed in Q2.

The company also reaffirmed it's 2023 to 2026, near-term growth outlook of 7-9% for adjusted EBITDA growth, 4-6% for adjusted EPS growth and approximately 3% for DCF per share growth.

For earnings history and earnings-related data on Enbridge (ENB) click here.

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