Summit Midstream Partners, LP Reports Second Quarter 2019 Financial Results
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Summit Midstream Partners (SMLP) Misses Q2 EPS by 17c, Revenues Miss
August 9, 2019 7:06 AM EDTSummit Midstream Partners (NYSE: SMLP) reported Q2 EPS of ($0.03), $0.17 worse than the analyst estimate of $0.14. Revenue for the quarter came in at $99.69 million versus the consensus estimate of $110.02 million.
Second quarter 2019 net income of $4.8 millionSecond quarter 2019 adjusted EBITDA of $68.6 million, Distributable Cash Flow of $38.4 million, and a distribution coverage ratio of 1.62xSequential quarterly adjusted EBITDA growth of 7.6% from combined Utica Shale and Ohio Gathering segmentsAnnounced FID and JV partner for Double E Pipeline, which has secured 10-year take-or-pay volume commitments for a substantial majority of its 1.35 Bcf/d of throughput... More