Enbridge Second Quarter 2024 Earnings: Beats Expectations
Enbridge (TSE:ENB) Second Quarter 2024 Results
Key Financial Results
Revenue: CA$11.3b (up 8.7% from 2Q 2023).
Net income: CA$1.85b (flat on 2Q 2023).
Profit margin: 16% (down from 18% in 2Q 2023). The decrease in margin was driven by higher expenses.
EPS: CA$0.86 (down from CA$0.91 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Enbridge Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 98%. Earnings per share (EPS) also surpassed analyst estimates by 37%.
Looking ahead, revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Oil and Gas industry in Canada.
Performance of the Canadian Oil and Gas industry.
The company's shares are up 3.7% from a week ago.
Risk Analysis
You should learn about the 3 warning signs we've spotted with Enbridge (including 2 which are a bit unpleasant).
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