EQM Midstream Partners, LP Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2019; Provides Earnings Guidance for the Second Quarter of 2019, Full Year 2019, 2020 and 2021
April 30, 2019 at 11:30 am
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EQM Midstream Partners, LP reported unaudited consolidated earnings results for the first quarter ended March 31, 2019. For the period, the company reported operating revenues of $389,782,000 compared to $371,026,000 a year ago. Operating income was $268,014,000 compared to $265,798,000 a year ago. Net income was $251,931,000 compared to $262,843,000 a year ago. Basic net income per limited partner common unit was $1.63 compared to $1.61 a year ago. Diluted net income per limited partner was $1.56 compared to $1.61 a year ago.
The company provided earnings guidance for the second quarter of 2019, full year 2019, 2020 and 2021. For the quarter, the company expected net income attributable to the company to be in the range of $200 million to $220 million.
For the full year 2019, the company expected net income attributable to the company of $1.0 billion.
For the full year 2020, the company expected net income attributable to the company of $1.2 billion.
For the full year 2021, the company expected net income attributable to the company of $1.4 billion.
EQT Midstream Partners LP is a United States-based company, which operates as a growth-oriented limited partnership that operates, acquires, and develops midstream assets in the Appalachian Basin. The Company is the natural gas gatherer in the United States and holds the transmission footprint in the Appalachian Basin. The Company provides midstream services to its customers in Pennsylvania, West Virginia, and Ohio through its three primary assets: the gathering system, which delivers natural gas from wells and other receipt points to transmission pipelines; the transmission and storage system, which delivers natural gas to local demand users and long-haul interstate pipelines for access to demand markets; and the water service system, which consists of water pipelines, impoundment facilities, pumping stations, take point facilities, and measurement facilities that support well completion activities and collect flowback and produced water for recycling or disposal.
EQM Midstream Partners, LP Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2019; Provides Earnings Guidance for the Second Quarter of 2019, Full Year 2019, 2020 and 2021