Equitrans Midstream (ETRN) Misses Q1 EPS by 3c, Revenues Beat

May 4, 2021 6:40 AM EDT

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Equitrans Midstream (NYSE: ETRN) reported Q1 EPS of $0.19, $0.03 worse than the analyst estimate of $0.22. Revenue for the quarter came in at $380 million versus the consensus estimate of $378.77 million.

Q1 2021 Highlights:

  • Delivered first quarter 2021 results ahead of guidance
  • Raised full-year 2021 adjusted EBITDA and free cash flow guidance
  • Generated $77 million of net income and achieved $308 million of adjusted EBITDA
  • Recorded 66% of total operating revenue from firm reservation fees

"As we continue to enhance our ESG platform, Equitrans has initiated measurable actions to advance diversity and inclusion in the workplace," said Thomas F. Karam, ETRN chairman and chief executive officer. "To reinforce our collective commitment, I have recently signed the CEO Pledge offered by the CEO Action for Diversity and Inclusion Coalition. We believe diverse perspectives lead to growth, improvement, and innovation, building stronger teams and delivering more opportunities to achieve and maintain long-term success."

"We were ahead of our forecast for the first quarter, with strong results in multiple areas including gathered volume, seasonal park and loan activity, and delivered water volume," said Diana M. Charletta, ETRN president and chief operating officer. "With this encouraging and positive start to the year, we are confident in our outlook for the remainder of 2021 and have increased our full-year financial guidance."

For earnings history and earnings-related data on Equitrans Midstream (ETRN) click here.

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