EnLink Midstream LLC (ENLC) Misses Q1 EPS by 10c

EnLink Midstream LLC (NYSE: ENLC) reported Q1 EPS of ($0.01), $0.10 worse than the analyst estimate of $0.09. Revenue for the quarter came in at $1.32 billion versus the consensus estimate of $1.17 billion.

• The General Partner reported net income of $9.3 million for the first quarter of 2017, compared to a net loss of $871.3 million in the first quarter of 2016. The net loss in 2016 was primarily due to non-cash expenses related to impairments.
• The General Partner's cash available for distribution was $51 million for the first quarter of 2017, compared to $48.4 million in the first quarter of 2016.
• ENLC reaffirmed full-year 2017 cash available for distribution guidance.
• Growth capital expenditures net to ENLC for the first quarter of 2017 totaled approximately $21 million. Guidance for 2017 growth capital expenditures net to ENLC remains unchanged at a range of $60 million to $70 million.
• As of April 27, 2017, ENLC had 180,557,694 common units outstanding.

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

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