CNX Midstream Partners LP (CNXM) Tops Q3 EPS by 8c

CNX Midstream Partners LP (NYSE: CNXM) reported Q3 EPS of $0.58, $0.08 better than the analyst estimate of $0.50. Revenue for the quarter came in at $73.98 million versus the consensus estimate of $73.3 million.

"CNXM delivered another strong quarter," commented Nicholas J. DeIuliis, CEO of CNX Midstream GP LLC, the general partner of the Partnership (the "General Partner"). "As compared to the third quarter of 2018, Adjusted EBITDA and distributable cash flow were up by 26% and 25%, respectively. This marks the 18th consecutive quarterly cash distribution increase at the targeted 15% annual growth rate. The 2019 capital build-out is nearly complete, and CNXM continues to expect capital to decline significantly in 2020, resulting in approximately $130 million in free cash flow(3)."

For earnings history and earnings-related data on CNX Midstream Partners LP (CNXM) click here.

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