American Midstream Partners (AMID) Misses Q2 EPS by 24c, Revenues Beat

American Midstream Partners (NYSE: AMID) reported Q2 EPS of ($0.48), $0.24 worse than the analyst estimate of ($0.24). Revenue for the quarter came in at $220.22 million versus the consensus estimate of $186.66 million.

"Our core business continues to perform well, and we are pleased with the strong operating results we generated in the second quarter. Our momentum through the first half of year, along with significant organic growth opportunities will continue to drive American Midstream as we move into the second half of 2018 and into 2019. As we focus on organically growing the Partnership through a self-funding model, we will strategically redeploy capital towards high growth assets which will inherently accelerate the accretion of the Partnership. Coupled with our debt reduction initiatives, we expect this model to strengthen both the operational and financial posture of the Partnership, while simultaneously rapidly deleveraging the balance sheet. We have a tremendous set of assets and we will continue to execute and benefit from the increase in producer activity and need for midstream infrastructure across our footprint," stated Lynn Bordon III, President and Chief Executive Officer.

For earnings history and earnings-related data on American Midstream Partners (AMID) click here.

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