Oklahoma City’s Enable Midstream Partners, LP will release third quarter 2020 financial results before market hours Wednesday, Nov. 4, and will host a conference call at 10 a.m. EST (9 a.m. CST) that day to discuss the results.
Investors are anxious to see if there was any improvement in earnings after the COVID-19 pandemic hit the energy industry, leaving many firms suffering losses into the millions. Enable was no different when second quarter results were announced in August as the company’s reported net income of $44 million was $80 million less than the $124 million reported in the second quarter of 2019.
The second quarter net income attributable to common units was $35 million, also a drop of $80 million from the $115 million for the second quarter a year earlier.
Second quarter net cash was $111 million, down $101 million from the $212 million for the 2019 second quarter.
Enable’s gathering systems anticipated more connections based on late July information that showed seven rigs across the company’s footprint were drilling wells…three in the Anadarko Basin, three in the Ark-La-Tex Basin and one in the Williston Basin.
During second quarter 2020, the partnership repurchased approximately $22 million aggregate principal amount of senior notes in the open market for approximately $17 million plus accrued interest. These repurchases resulted in a $5 million gain on extinguishment of debt.
The toll-free dial-in number to access the conference call is 833-968-1938, and the international dial-in number is 778-560-2726. The conference call ID is 8109667. The call will accompany a live webcast, and a replay will be available afterward. The webcast can be accessed from Enable’s investor page at investors.enablemidstream.com.