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EQM Midstream Partners: Q1 Earnings Insights

Shares of EQM Midstream Partners (NYSE:EQM) rose 3.9% in pre-market trading after the company reported Q1 results. Quarterly Results Earnings per share fell 15.38% year over year to $1.32, which beat the estimate of $0.91.

Benzinga · 05/14/2020 13:15

Shares of EQM Midstream Partners (NYSE:EQM) rose 3.9% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share fell 15.38% year over year to $1.32, which beat the estimate of $0.91.

Revenue of $453,113,000 higher by 16.25% year over year, which beat the estimate of $397,200,000.

Looking Ahead

EQM Midstream Partners hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Conference Call Details

Date: May 14, 2020

Time: 07:56 PM ET

Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=&eventid=2161448&sessionid=1&key=8F0B0F490906FB35220AF4F2F353324D&regTag=&sourcepage=register

Recent Stock Performance

Company's 52-week high was at $46.48

Company's 52-week low was at $7.34

Price action over last quarter: Up 0.92%

Company Description

EQM Midstream Partners LP owns, operates, acquires and develops midstream assets in the Appalachian Basin. It provides midstream services to EQT and third parties in the Appalachian Basin across counties in Pennsylvania and West Virginia through two assets, the transmission, and storage system and the gathering system. The company's transmission and storage system included an approximately 700-mile Federal Energy Regulatory Commission (FERC)-regulated interstate pipeline that connects to five interstate pipelines and multiple distribution companies. The transmission system is supported by associated natural gas storage reservoirs with approximately 400 MMcf per day of peak withdrawal capacity and 32 Bcf of working gas capacity and 27 compressor units.