Enable Midstream Partners, LP (ENBL) has reported 4.62 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $68 million in the quarter, compared with $65 million for the same period last year. Revenue during the quarter grew 8.48 percent to $614 million from $566 million in the previous year period. Gross margin for the quarter contracted 628 basis points over the previous year period to 51.14 percent. Total expenses were 85.99 percent of quarterly revenues, down from 88.34 percent for the same period last year. This has led to an improvement of 235 basis points in operating margin to 14.01 percent.
Operating income for the quarter was $86 million, compared with $66 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $218 million compared with $172 million in the prior year period. At the same time, adjusted EBITDA margin improved 512 basis points in the quarter to 35.50 percent from 30.39 percent in the last year period.
"Despite starting the year with a challenging industry backdrop, I am proud to announce that Enable achieved its 2016 objectives, including exceeding our previously announced 2016 outlook for distributable cash flow and Adjusted EBITDA," said Enables president and chief executive officer Rod Sailor. "These results are a testament to the talent and dedication of our employees and Enable's continued focus on financial discipline.
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