Stock Analysis
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
Before you take the next step you should know about the 3 warning signs for Enbridge (2 are a bit unpleasant!) that we have uncovered.
Valuation is complex, but we're here to simplify it.
Discover if Enbridge might be undervalued or overvalued with our detailed analysis, featuring fair value estimates, potential risks, dividends, insider trades, and its financial condition.
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About TSX:ENB
Enbridge
Operates as an energy infrastructure company.