Stock Monitor: Houston American Energy Post Earnings Reporting
LONDON, UK / ACCESSWIRE / May 29, 2018 / If you want access to our free earnings report on EnLink Midstream Partners, L.P. (NYSE: ENLK) ("EnLink"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ENLK. The Company posted its financial results on May 01, 2018, for the first quarter of the fiscal year 2018 (Q1 FY18). The Company's total revenues and diluted earnings per share (EPS) grew on a y-o-y basis, outshining Wall Street's estimates. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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During Q1 FY18, EnLink's total revenues came in at $1.76 billion, up from $1.32 billion recorded at the end of Q1 FY17. The Company's total revenues for the reported quarter outperformed market consensus estimates of $1.71 billion.
The oil and natural gas Company reported a net income attributable to common shareholders of $21.6 million, or $0.06 per diluted share, in Q1 FY18 compared to a net loss attributable to common shareholders of $9.3 million, or $0.03 loss per diluted share, in Q1 FY17. Moreover, market analysts had forecasted the Company to report a net income of $0.05 per share for Q1 FY18.
Operating Metrics
The Dallas, Texas-based Company's cost of sales increased to $1.38 billion during Q1 FY18 from $1.00 billion in the past year's same quarter. The Company spent $109.2 million on operating expenses in Q1 FY18 compared to $104.1 million in Q1 FY17. The Company's general and administrative (G&A) expenses came in at $26.2 million in the reported quarter compared to $35.0 million in Q1 FY17. The Company's total operating costs and expenses also rose to $1.66 billion during Q1 FY18 from $1.26 billion in Q1 FY17. The Company reported an operating income of $106.6 million in Q1 FY18, up from $57.6 million in Q1 FY17. Furthermore, the Company's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) rose to stand at $243.7 million during Q1 FY18 from $207.6 million in Q1 FY17.
Segment Performance
During Q1 FY18, EnLink's Texas segment's revenues came in at $310.1 million compared to $324.5 million in Q1 FY17. The segment's profit was $104.4 million in Q1 FY18 compared to $101.4 million in Q1 FY17.
EnLink's Louisiana segment's reported revenues of $774.1 million in Q1 FY18, up from $636.8 million in the last year's comparable quarter. The segment posted a profit of $61.8 million in Q1 FY18 compared to $46.7 million in Q1 FY17.
EnLink's Oklahoma segment's revenues were $255.1 million in the reported quarter, surging from $156.2 million in Q1 FY17. The segment's profit grew to $95.4 million in Q1 FY18 from $53.4 million in Q1 FY17.
For Q1 FY18, EnLink's Crude and Condensate segment posted revenues of $650.9 million, which came in above the $368.6 million reported in Q1 FY17. The segment's profit was $8.9 million in Q1 FY18 compared to $11.2 million in Q1 FY17.
Cash Matters and Balance Sheet
For the quarter ended March 31, 2018, EnLink generated net cash provided by operating activities of $192.7 million compared to $174.2 million in the prior year's corresponding quarter. For the reported quarter, EnLink's capital expenditure was $181.2 million versus $248.1 million in Q1 FY17.
The Company's cash and cash equivalents balance stood at $16.8 million as on March 31, 2018, compared to $30.8 million at the close of books on December 31, 2017. Furthermore, the Company's total long-term debt increased to $3.84 billion as on March 31, 2018, from $3.48 billion as on December 31, 2017.
Stock Performance Snapshot
May 25, 2018 - At Friday's closing bell, EnLink Midstream Partners' stock dropped 1.06%, ending the trading session at $15.90.
Volume traded for the day: 608.55 thousand shares.
Stock performance in the last month – up 9.50%; previous three-month period – up 4.95%; past six-month period – up 4.33%; and year-to-date – up 3.45%
After last Friday's close, EnLink Midstream Partners' market cap was at $5.63 billion.
Price to Earnings (P/E) ratio was at 233.82.
The stock has a dividend yield of 9.81%.
The stock is part of the Basic Materials sector, categorized under the Independent Oil & Gas industry.
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