Equitrans Midstream Corp reports results for the quarter ended in March - Earnings Summary

Equitrans Midstream

30/04/2024 15:41

* Equitrans Midstream Corp  ETRN.N  reported quarterly
adjusted
earnings of 23 cents​​ per share for the quarter ended in March,
higher than the same quarter last year, when the company
reported EPS of 22 cents.  The mean expectation of
eight analysts for the quarter was for earnings of 24 cents per
share. Wall Street expected results to range from 12 cents to 33
cents per share.
    * Revenue fell 3.2% to $364.27 million from a year ago;
analysts
expected $359.39 million. 
    * Equitrans Midstream Corp's reported EPS for the quarter
was 21
cents​.
    * The company reported quarterly net income of $94.37
million.
    * Equitrans Midstream Corp shares had risen by 11.1% this
quarter and gained 36.3% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 1.4%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 6
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the oil & gas
transportation services peer group is also "hold"

Wall Street's median 12-month price target for Equitrans
Midstream Corp is $12.00 
This summary was machine generated from LSEG data April 30 at
02:41 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024                     0.23           
 Dec. 31 2023      0.20           0.32           Beat
 Sep. 30 2023      0.16           0.26           Beat
 Jun. 30 2023      0.11           0.09           Missed