EnLink Midstream (NYSE: ENLC) reported Q2 EPS of $0.01, $0.03 worse than the analyst estimate of $0.04. Revenue for the quarter came in at $1.03 billion versus the consensus estimate of $937.17 million.

Consolidated Guidance Update

• EnLink refined full-year 2016 consolidated adjusted EBITDA guidance to a range of $750 million to $800 million from a range of $720 million to $800 million previously.
• Consolidated growth capital expenditures guidance for full-year 2016 increased to a range of $545 million to $630 million, up from previous guidance of $445 million to $570 million. The increase is primarily due to the acceleration of the Chisholm II expansion and the build-out of the Greater Chickadee Crude Oil Gathering Project. Additional growth capital has also been allocated to increase gathering system capacity in the Midland Basin. Growth capital expenditures is a non-GAAP measure and it, as well as the unavailability of a comparable GAAP measure, is explained in greater detail under "Non-GAAP Financial Information."
• Net cash outlay related to consolidated growth capital expenditures for full-year 2016 has decreased to a range of $430 million to $515 million, down from the previous expected range of $445 million to $570 million. The decrease is in part due to a portion being financed by NGP's reimbursement of capital spent to date in the Delaware Basin related to the joint venture, as well as NGP's participation in funding future growth capital for the joint venture. The other factor is related to the potential reduction in growth capital related to the Partnership's investment in Howard Energy Partners (HEP), as discussed below further in the Quarterly Update section.

For earnings history and earnings-related data on EnLink Midstream (ENLC) click here.