Enable Midstream Partners (ENBL) Misses Q2 EPS by 5c, Revenues Miss

Enable Midstream Partners (NYSE: ENBL) reported Q2 EPS of $0.08, $0.05 worse than the analyst estimate of $0.13. Revenue for the quarter came in at $515 million versus the consensus estimate of $746.96 million.

• Contracted or extended over 950,000 dekatherms per day (Dth/d) of transportation capacity during second quarter 2020
• Received a firm, 80,000 Dth/d commitment for Enable Mississippi River Transmission, LLC’s (MRT) Southbound Expansion project
• Achieved record quarterly Ark-La-Tex Basin natural gas gathered volumes
• On track to achieve the capital and cost reductions announced earlier this year
• Reaffirming 2020 financial outlook
• Declared a quarterly cash distribution of $0.16525 per unit on all outstanding common units and $0.625 on all outstanding Series A Preferred Units

MANAGEMENT PERSPECTIVE

“With producers bringing shut-in wells in oilier plays back to our gathering systems earlier than anticipated, we saw less than expected curtailment of crude-focused production during the second quarter,” said Rod Sailor, president and CEO. “Highlighting the strength of the Haynesville Shale play, the second quarter also saw the highest quarter of natural gas gathered volumes in the Ark-La-Tex Basin since the partnership’s inception. Enable continues to operate at a high level of safety and reliability through these uncertain times, and we remain on track to achieve the capital and cost reductions announced in April of this year.”

For earnings history and earnings-related data on Enable Midstream Partners (ENBL) click here.

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