Enable Midstream Partners, LP (ENBL) has reported 39.53 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $120 million in the quarter, compared with $86 million for the same period last year. Revenue during the quarter surged 30.84 percent to $666 million from $509 million in the previous year period. Gross margin for the quarter contracted 794 basis points over the previous year period to 53.75 percent. Total expenses were 78.98 percent of quarterly revenues, down from 79.76 percent for the same period last year. This has led to an improvement of 79 basis points in operating margin to 21.02 percent.
Operating income for the quarter was $140 million, compared with $103 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $221 million compared with $215 million in the prior year period. At the same time, adjusted EBITDA margin contracted 906 basis points in the quarter to 33.18 percent from 42.24 percent in the last year period.
“Enable continues to enhance its market-leading midstream position in the Anadarko Basin by providing customers with tailored, cost-effective and timely solutions from the wellhead to end markets,” said Rod Sailor, Enable’s President and Chief exeutive officer. “Project Wildcat provides critical market access and additional processing capacity, positioning Enable to serve our customers’ growing production.”
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