Enterprise Group, Inc.
Shatters Records in Q3 / Anticipating a Strong Finish to the Year
Published: 11/15/2023
Author: Sid Rajeev, B.Tech, CFA, MBA

Sector: Energy | Industry: Oil & Gas Equipment & Services
Ticker Symbols:
E.TO - TSX 🔹
ETOLF - NASDAQ 🔹
Highlights
In Q3-2023, Enterprise posted record revenue, and EPS. Revenue was up 61% YoY, beating our estimate by 12%. For comparison, H1-2023 revenue was up 20% YoY.
Gross margins improved YoY by 16 ppt, and was 3 ppt higher than our estimate.
Q3 EPS turned positive, beating our estimate by 60%, amid higher revenue and gross margins.
Revenue growth came from multiple new contracts from tier-one clients. According to the Alber