EnLink Midstream (ENLC) Reports Q4 Earnings: What Key Metrics Have to Say

For the quarter ended December 2023, EnLink Midstream (ENLC) reported revenue of $1.86 billion, down 9.5% over the same period last year. EPS came in at $0.14, compared to $0.33 in the year-ago quarter.

The reported revenue represents a surprise of +1.95% over the Zacks Consensus Estimate of $1.82 billion. With the consensus EPS estimate being $0.14, the company has not delivered EPS surprise.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how EnLink Midstream performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Gathering and Transportation - Permian: 1,943,500 MMBtu/d compared to the 1,946,532 MMBtu/d average estimate based on two analysts.

• Processing - Permian: 1,769,100 MMBtu/d versus 1,745,269 MMBtu/d estimated by two analysts on average.

• Crude Oil Handling - Permian: 186,700 BBL/D compared to the 178,178.3 BBL/D average estimate based on two analysts.

• Gathering and Transportation - Louisiana: 2,474,700 MMBtu/D compared to the 2,659,194 MMBtu/D average estimate based on two analysts.

• Crude Oil Handling - Louisiana: 6,500 BBL/D versus the two-analyst average estimate of 18,010.57 BBL/D.

• Processing - North Texas: 725,200 MMBtu/d versus 714,701.3 MMBtu/d estimated by two analysts on average.

• Gathering and Transportation - Oklahoma: 1,228,100 MMBtu/d versus 1,216,356 MMBtu/d estimated by two analysts on average.

• Processing - Oklahoma: 1,180,800 MMBtu/d versus the two-analyst average estimate of 1,199,579 MMBtu/d.

• Crude Oil Handling - Oklahoma: 25,300 BBL/D versus the two-analyst average estimate of 25,604.79 BBL/D.

• Gathering and Transportation - North Texas: 1,544,800 MMBtu/d compared to the 1,573,099 MMBtu/d average estimate based on two analysts.

• NGL Fractionation - Louisiana: 8,017,600 Gal/D versus the two-analyst average estimate of 7,928,171 Gal/D.

• Segment Profit- Permian: $105.90 million compared to the $115.32 million average estimate based on two analysts.

View all Key Company Metrics for EnLink Midstream here>>>

Shares of EnLink Midstream have returned +3.5% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

EnLink Midstream, LLC (ENLC) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research