Enable nearly doubles 2Q net income from a year ago

Company - Enable Midstream Partners

 

Enable Midstream Partners, LP announced financial and operating results for second quarter 2021 showing increased income and a continuing quarterly cash distribution for shareholders.

The Oklahoma City company said net income attributable to limited partners was $87 million for second quarter 2021, an increase of $43 million compared to $44 million of net income for second quarter 2020. Net income attributable to common units was $79 million for second quarter 2021, an increase of $44 million compared to $35 million of net income for second quarter 2020.

Net cash provided by operating activities was $190 million for second quarter 2021, an increase of $79 million compared to $111 million for second quarter 2020. Adjusted EBITDA was $251 million for second quarter 2021, an increase of $27 million compared to $224 million for second quarter 2020. Distributable cash flow (DCF) was $184 million for second quarter 2021, an increase of $36 million compared to $148 million for second quarter 2020.

For second quarter 2021, DCF exceeded declared distributions to common unitholders by $112 million, resulting in a distribution coverage ratio of 2.56x.

“Enable delivered a solid second quarter, and I am proud of our team’s continued efforts,” said Rod Sailor, president and CEO. “Following FERC approval in June of our Gulf Run Pipeline project, we are moving forward to safely and efficiently construct the pipeline and place it into service as scheduled.”

CenterPoint's Enable Midstream buying Dallas company for $300M

 

The company said at least 10 rigs were drilling wells across Enable’s footprint and expected to be connected to the firm’s gathering systems. Six rigs were operating in the Anadarko Basin and four in the Ark-La-Tex Basin.

Click here for Enable release

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