Enbridge (TSE:ENB) Third Quarter 2024 Results

Key Financial Results

• Revenue: CA$14.9b (up 51% from 3Q 2023).

• Net income: CA$1.29b (up 143% from 3Q 2023).

• Profit margin: 8.7% (up from 5.4% in 3Q 2023). The increase in margin was driven by higher revenue.

• EPS: CA$0.59 (up from CA$0.26 in 3Q 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 120%. Earnings per share (EPS) also surpassed analyst estimates by 8.1%.

Looking ahead, revenue is expected to decline by 2.8% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in Canada are expected to grow by 1.8%.

Performance of the Canadian Oil and Gas industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

We should say that we've discovered 3 warning signs for Enbridge (2 make us uncomfortable!) that you should be aware of before investing here.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.