EQM Midstream Partners, LP Reports Unaudited Consolidated Earnings Results for the Third Quarter Ended September 30, 2018; Provides Earnings Guidance for the Full Year of Fiscal Year 2018
October 25, 2018 at 06:20 am EDT
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EQM Midstream Partners, LP reports unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported operating revenues of USD 364,584,000 against USD 206,293,000 a year ago. Operating income was USD 233,500,000 against USD 145,702,000 a year ago. Net income was USD 209,927,000 against USD 142,938,000 a year ago. Net income per limited partner unit – basic and diluted was USD 1.14 against USD 1.28 a year ago. Adjusted EBITDA was USD 280,069,000 compared to USD 170,498,000 a year ago. Net cash provided by operating activities was USD 242,575,000. Distributable cash flow was USD 218,604,000.
For the nine months, the company reported net income attributable to the company was USD 704,109,000 compared to USD 425,273,000 a year ago. Adjusted EBITDA was USD 695,934,000 compared to USD 504,400,000 a year ago.
The company provided earnings guidance for the full year of fiscal year 2018. For the year, the company expects net income of USD 930 million to USD 950 million.
Adjusted EBITDA USD 990 million to USD 1,100 million. Expects distributable cash flow of USD 810 million to USD 830 million. Total capital expenditures are expected to USD 240,084,000 to USD 70,494,000 a year ago.
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 Third Quarter Ended September 30, 2018; Provides Earnings Guidance for the Full Year of Fiscal Year 2018
EQM MIDSTREAM PARTNERS, LP 
