DALLAS , Nov. 6, 2024 /PRNewswire/ -- EnLink Midstream, LLC (NYSE: ENLC) (EnLink) today reported financial results for the third quarter of 2024. Highlights "EnLink delivered a very strong third quarter due to the consistent execution of our strategy," EnLink President and Chief Executive Officer Jesse Arenivas said.
"In Louisiana, we continue to move forward with our natural gas capacity expansions and storage projects, and, in the Permian, where we completed our third plant relocation earlier this year, we see consistent producer activity that will drive our next phase of growth. While we execute these growth strategies, we remain focused on our primary goal of creating unitholder value and financial flexibility by generating solid free cash flow after distributions." Adjusted EBITDA and FCFAD used in this press release are non-GAAP measures and are explained in greater detail under "Non-GAAP Financial Information" below.
1 Includes $20.4 million of common units repurchased from GIP pursuant to our Unit Repurchase Agreement, which settled on October 2, 2024. The Unit Repurchase Agreement was terminated on October 2, 2024.
Third Quarter 2024 Financial Results and Highlights $MM, unless noted Third Quarter 2024 Second Quarter 2024 Third Quarter 2023 Net Income (1) 43 67 66 Adjusted EBITDA, net to EnLink 345 306 342 Net Cash Provided by Operating Activities 260 163 274 Capex, Plant Relocation Costs, net to EnLink & Investment Contributions 78 103 126 Free Cash Flow After Distr.
