EQT Midstream Partners, LP reported unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported operating revenues of $232,842,000 against $200,072,000 a year ago. Operating income was $178,342,000 against $145,308,000 a year ago. Net income was $177,218,000 against $143,196,000 a year ago. Limited partner interest in net income was $129,937,000 against $109,991,000 a year ago. Net income per limited partner basic and diluted unit was $1.61 against $1.36 a year ago. Total capital expenditures were $87,862,000 against $70,227,000 a year ago. Adjusted EBITDA was $204.4 million, net cash provided by operating activities was $182.4 million, and distributable cash flow was $187.2 million. The increase in revenue was primarily due to higher contracted firm transmission and gathering capacity and increased seasonal storage related services. During the quarter, 89% of operating revenue was generated by firm reservation fees.

For the year 2018, the company expects net income in the range of $0.70 billion to $0.80 billion, adjusted EBITDA in the range of $0.90 billion to $1.00 billion and distributable cash flow in the range of $0.75 billion to $0.85 billion.
For the year 2019, the company expects net income in the range of $0.95 billion to $1.05 billion, adjusted EBITDA in the range of $1.40billion to $1.50 billion and distributable cash flow in the range of $1.15 billion to $1.25 billion.

For the year 2020, the company expects net income in the range of $1.00 billion to $1.10 billion, adjusted EBITDA in the range of $1.55 billion to $1.65 billion and distributable cash flow in the range of $1.25 billion to $1.35 billion.