Crestwood Announces Third Quarter 2019 Financial and Operating Results
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Crestwood Equity Partners (CEQP) Misses Q3 EPS by 3c
October 29, 2019 7:20 AM EDTCrestwood Equity Partners (NYSE: CEQP) reported Q3 EPS of $0.12, $0.03 worse than the analyst estimate of $0.15. Revenue for the quarter came in at $657.4 million versus the consensus estimate of $689.31 million.
Strong execution in the G&P and MS&L segments drives net income of $33.6 million and Adjusted EBITDA of $140.9 million, a 39% year-over-year increaseBakken Bear Den II processing plant commenced service in third quarter driving record volumes on the Arrow system and an increased well connect forecast to 120 new wells for full-year 2019Year-to-date 2019 results exceed expectations; Upwardly revising 2019E Adjusted EBITDA guidance range to $520... More