Cnx Midstream Partners Lp Announces Unaudited Consolidated Results for the Quarter and Six Months Ended June 30, 2018; Provides Earnings Results Guidance for the Year 2018
For six months, total revenue was $124.8 million compared to $115.4 million for the same period a year ago. Net income attributable to General and Limited Partner ownership interest in CNXM was $57.8 million as compared to $59 million for the same period a year ago. Basic and diluted income per limited partner units was $0.83 compared to $0.89 for the same period a year ago. EBITDA was $84.8 million compared to $76.5 million for the same period a year ago. Adjusted EBITDA was $88.6 million compared to $81 million for the same period a year ago. Distributable cash flow was $60.8 million compared to $59.8 million for the same period a year ago. net cash provided by operating activities was $95.5 million compared to $76.4 million for the same period a year ago.
The company provided earnings results guidance for the year 2018. Net income is expected to be $132 million. EBITDA Is expected to be $178 million. Adjusted EBITDA attributable to General and Limited Partner ownership interest in CNX Midstream Partners LP is expected to be $160 million. Distributable Cash Flow is expected to be $125 million. The Partnership expects its 2018 capital expenditures range to increase to approximately $100-$110 million, compared to the previous guidance of $80-$90 million, due primarily to the acceleration of activity from 2019 into 2018 and adding new high rate of return projects. EBITDA is expected to be in range of $150 million to $165 million. Distributable cash flow is expected to be $120 million to $135 million. Throughput to be 1,150 - 1,240 (MMcfe/d).