CONE Midstream Partners (CNNX) Tops Q3 EPS by 3c; Boosts FY16 Outlook
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
CONE Midstream Partners (NYSE: CNNX) reported Q3 EPS of $0.40, $0.03 better than the analyst estimate of $0.37. Revenue for the quarter came in at $60.73 million versus the consensus estimate of $57.89 million.
- Net income of $23.6 million as compared to $19.7 million
- Average daily throughput volumes of 840 billion Btu per day (BBtu/d) as compared to 642 BBtu/d
- Net cash provided by operating activities of $40.0 million as compared to $38.8 million
- Adjusted EBITDA(2) of $26.8 million as compared to $21.9 million
- Distributable cash flow (DCF)(2) of $23.3 million as compared to $19.5 million
- Cash distribution coverage of 1.47x on an as declared basis
2016 Guidance Update
Based on current expectations, management is providing the following updated guidance for 2016. Full year 2016 Adjusted EBITDA attributable to the Partnership, previously projected to be in the range of $96 - $106 million, is now expected to be in the range of $103 - $108 million. Full year distributable cash flow attributable to the Partnership, previously projected to be in the range of $82 - $92 million, is now expected to be in the range of $89 - $94 million. CONE Midstream’s financial guidance is based on numerous assumptions about future events and conditions and, therefore, could vary materially from actual results. These estimates are meant to provide guidance only and are subject to revision for acquisitions or operating environment changes.
For earnings history and earnings-related data on CONE Midstream Partners (CNNX) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Sonoco (SON) Affirms FY16 Outlook; Guides FY17 EPS Below Views
- Porter Bancorp (PBIB) Shares Active Following Kentucky Court of Appeals Verdict
- Alico (ALCO) Reports Q4 Loss of $0.41/Share
Create E-mail Alert Related CategoriesEarnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!