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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