EQT Midstream Partners, LP Reports Unaudited consolidated Earnings Results for the Second Quarter Ended of June 30, 2018; Provides Earnings Guidance for the Third Quarter and Full Year of 2018
July 26, 2018 at 11:32 am
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EQT Midstream Partners, LP reported unaudited consolidated earnings results for the second quarter ended of June 30, 2018. For the quarter, the company's operating revenues were $269,761,000 against $196,815,000 for the same period of last year. Operating income was $182,273,000 against $141,288,000 for the same period of last year. Net income was $172,619,000 against $139,139,000 for the same period of last year. Net income per basic and diluted limited partner unit was $1.09 against $1.27 for the same period of last year. Total capital expenditures were $167,061,000 against $83,686,000 for the same period of last year. Adjusted EBITDA of $209,508,000 and net cash provided by operating activities of $220,225,000.
For third quarter 2018, the company forecasts adjusted EBITDA of $265 million to $280 million and net income in the range of $200 million to $215 million.
For the full 2018, the company forecasts adjusted EBITDA of $980 million to $1,020 million and net income in the range of $930 million to $970 million.
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.
EQT Midstream Partners, LP Reports Unaudited consolidated Earnings Results for the Second Quarter Ended of June 30, 2018; Provides Earnings Guidance for the Third Quarter and Full Year of 2018