DALLAS (AP) _ EnLink Midstream LLC (ENLC) on Tuesday reported a second-quarter loss of $16.1 million, after reporting a profit in the same period a year earlier.
The Dallas-based company said it had a loss of 3 cents per share. Earnings, adjusted for non-recurring costs, were 5 cents per share.
The results did not meet Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.
The natural gas company posted revenue of $1.71 billion in the period, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $1.83 billion.
EnLink Midstream shares have decreased 11% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $8.40, a drop of 51% in the last 12 months.