EnLink Midstream (ENLC) Q3 Earnings and Revenues Lag Estimates

Core Viewpoint - EnLink Midstream reported quarterly earnings of $0.06 per share, missing the Zacks Consensus Estimate of $0.13 per share, representing a 53.85% earnings surprise to the downside [1][2] Financial Performance - The company posted revenues of $1.61 billion for the quarter ended September 2024, which was 8.81% below the Zacks Consensus Estimate and down from $1.75 billion a year ago [2] - Over the last four quarters, EnLink Midstream has not surpassed consensus EPS estimates and has only topped revenue estimates once [2] Stock Performance - EnLink Midstream shares have increased approximately 26% since the beginning of the year, outperforming the S&P 500's gain of 21.2% [3] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.19 on revenues of $2.17 billion, and for the current fiscal year, it is $0.47 on revenues of $7.14 billion [7] - The estimate revisions trend for EnLink Midstream is currently unfavorable, resulting in a Zacks Rank 4 (Sell), indicating expected underperformance in the near future [6] Industry Context - The Oil and Gas - Refining and Marketing industry is currently in the bottom 2% of over 250 Zacks industries, suggesting a challenging environment for stocks in this sector [8]