Post by
Obscure1 on Feb 09, 2024 8:15am
Earnings report
YoY Adjusted earnings down $0.02 from $2.81 to $$.79 (that is what the media will report but the Q4 numbers were much higher than expected ($0.64 vs $0.50 concensus) >>> Q4 made up for a tough year.
YoY GAAP earnings $2.84 vs $1.28 (irrelevant as standard earnings are a currency play for ENB)
YoY adjusted EBITDA up 6% from $14.5 billion to $15.5 billion >>> dive into notes required
YoY cash flow from operations up from $11.2 billion to $14.2 billion >>> good thing
YoY distributable cash flow (DCF) up $300 million to $11.3 billion >>> meh
Debt to EBITDA 4.1x which is well below range of 4.5x to 5.0x >>> bad thing as having a big cash position waiting for the Dominion acquisition dilutes earnings
ENB has raised (or will have raised after the asset sale to Pembina) 85% of the funds they need to close the $19.1 billion purchase of the Dominion NG distribution assets >>> good thing
With the Dominion acquisition, ENB will be 50% NG and renewables and 50% liquids >>> good thing as they are diversifying away from liquids and Canada BUT the share price will continue to be tarnished by the market hating anything to do with oil
Comment by
Experienced on Feb 09, 2024 9:04am
Obscure...nice summary Slept in this morning so your summary saved me a lot of time....thanks Seems in the pre-market that The Street is viewing the report as positive although without any major conviction in terms of volume. We will see what the day brings and also with its"sister"...ENS
Comment by
Experienced on Feb 09, 2024 9:34am
Interesting...slight pop at open and they took the price down Could be an interesting day
Comment by
NPCexe on Feb 10, 2024 2:53pm
Earnings were a bit better than I expected, but as I predicted the sp will continue to slide. 45 would be a good price to add more