RE:RE:RE:RE:RE:RE:RE:ENB - Discussed on BNN Market Call - Greg NewmanThey're talking EBITDA and DCF being better than they expected, this doesn't change the fact earnings were a miss. Conviently they forgot to mention that fact....
Quin wrote:"EQUITY RESEARCH July 29, 2022 Flash Research ENBRIDGE INC. Q2/22 First Look: Modest Beat And An LNG Investment Modest EBITDA Beat And Guidance Maintained: The company reported strong Q2 results as adjusted EBITDA of $3.715B was better than our estimate of $3.644B and consensus of $3.691B. Reported DCF/share of $1.36 also beat our estimate of $1.28 and consensus of $1.27. DCF was helped by a number of below-the-line items, including lower preferred share dividends and maintenance capital. The company also took a restructuring expense of $100MM associated with the enterprise insurance strategy. The EBITDA variance stemmed largely from a stronger performance in Renewable Power due to stronger North American wind resources and higher energy pricing and from Gas Transmission due to higher commodity prices benefiting assets. Liquids Pipelines underperformed slightly due to marked-to-market losses on derivative financial instruments.
Even when it misses it beats!
Go Enbridge! ;-)"