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Enlink Midstream, Llc (ENLC) SEC Filing 10-Q Quarterly report for the period ending Saturday, March 31, 2018

Enlink Midstream, Llc

CIK: 1592000 Ticker: ENLC

Exhibit 99.1

 

 

FOR IMMEDIATE RELEASE

 

May 1, 2018

 

Investor Relations: Kate Walsh, Vice President of Investor Relations, 214-721-9696, kate.walsh@enlink.com

Media Relations: Jill McMillan, Vice President of Public & Industry Affairs, 214-721-9271, jill.mcmillan@enlink.com

 

EnLink Midstream Reports First Quarter 2018 Results, Reaffirms 2018 Guidance, and

Announces STACK Crude Oil Gathering Expansion

 

DALLAS, May 1, 2018 — The EnLink Midstream companies (EnLink), EnLink Midstream Partners, LP (NYSE: ENLK) (the Partnership or ENLK) and EnLink Midstream, LLC (NYSE: ENLC) (the General Partner or ENLC), reported financial results for the first quarter of 2018, reaffirmed full-year 2018 guidance, and announced an expansion of its crude oil gathering system in Central Oklahoma.

 

Highlights

 

·                  ENLK reported net income attributable to ENLK after non-controlling interest of approximately $60 million for the first quarter of 2018, compared to approximately $18 million for the first quarter of 2017.  This represents approximately 230 percent growth quarter over quarter.

 

·                  ENLK achieved approximately $244 million of adjusted EBITDA net to ENLK for the first quarter of 2018, compared to approximately $208 million for the first quarter of 2017.  This represents approximately 17 percent growth quarter over quarter.  Adjusted EBITDA is a non-GAAP measure and is explained in greater detail under “Non-GAAP Financial Information.”

 

·                  ENLC reported net income attributable to ENLC after non-controlling interest of approximately $12 million for the first quarter of 2018, compared to a net loss of approximately $2 million for the first quarter of 2017.  This represents approximately $14 million growth quarter over quarter.

 

·                  ENLC achieved approximately $57 million of cash available for distribution for the first quarter of 2018, compared to approximately $51 million for the first quarter of 2017.  This represents approximately 12 percent growth quarter over quarter.  Cash available for distribution is a non-GAAP measure and is explained in greater detail under “Non-GAAP Financial Information.”

 

·                  EnLink reaffirmed full-year 2018 guidance for both ENLK and ENLC.

 

1


The following information was filed by Enlink Midstream, Llc (ENLC) on Tuesday, May 1, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Enlink Midstream, Llc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statement Of Changes In Members' Equity
Consolidated Statements Of Cash Flows
Consolidated Statements Of Operations
Consolidated Statements Of Operations (parenthetical)
Certain Provisions Of The Partnership Agreement
Certain Provisions Of The Partnership Agreement (tables)
Certain Provisions Of The Partnership Agreement - Allocation Of Income (details)
Certain Provisions Of The Partnership Agreement - Narrative And Distributions (details)
Derivatives
Derivatives (tables)
Derivatives - Commodities (details)
Derivatives - Components Of Gain (loss) (details)
Derivatives - Fair Value Of Assets And Liabilities (details)
Derivatives - Interest Rate Swaps (details)
Employee Incentive Plans
Employee Incentive Plans (tables)
Employee Incentive Plans - Amounts Recognized In Consolidated Financial Statements (details)
Employee Incentive Plans - Restricted And Performance Awards (details)
Fair Value Measurements
Fair Value Measurements (tables)
Fair Value Measurements - Financial Instruments (details)
Fair Value Measurements - Recurring (details)
General
General (details)
Income Taxes
Income Taxes (details)
Income Taxes (tables)
Intangible Assets
Intangible Assets (tables)
Intangible Assets - Amortization Expense (details)
Intangible Assets - Changes In Carrying Value (details)
Intangible Assets - Narrative (details)
Investment In Unconsolidated Affiliates
Investment In Unconsolidated Affiliates (details)
Investment In Unconsolidated Affiliates (tables)
Long-term Debt
Long-term Debt (tables)
Long-term Debt - Narrative (details)
Long-term Debt - Summary (details)
Members' Equity
Members' Equity (tables)
Members' Equity - Components To Compute Basic And Diluted Earnings Per Unit (details)
Members' Equity - Computation And Distribution Activity (details)
Other Information
Other Information (details)
Other Information (tables)
Related Party Transactions
Related Party Transactions (details)
Segment Information
Segment Information (tables)
Segment Information - Financial Information And Assets (details)
Segment Information - Reconciliation (details)
Significant Accounting Polices (tables)
Significant Accounting Policies
Significant Accounting Policies (policies)
Significant Accounting Policies - Narrative (details)
Significant Accounting Policies - Summary Of Changes In Revenue (details)
Significant Accounting Policies - Summary Of Future Performance Obligations (details)

Material Contracts, Statements, Certifications & more

Enlink Midstream, Llc provided additional information to their SEC Filing as exhibits

Ticker: ENLC
CIK: 1592000
Form Type: 10-Q Quarterly Report
Accession Number: 0001592000-18-000006
Submitted to the SEC: Wed May 02 2018 8:57:46 AM EST
Accepted by the SEC: Wed May 02 2018
Period: Saturday, March 31, 2018
Industry: Natural Gas Transmission

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