Crestwood Equity Partners (CEQP) Misses Q4 EPS by 15c, Revenues Beat

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Go back to Crestwood Equity Partners (CEQP) Misses Q4 EPS by 15c, Revenues Beat

Crestwood Announces Fourth Quarter 2019 Financial and Operating Results, Provides 2020 Outlook with 15% Growth Forecast and Updates Bakken, Powder River Basin and Delaware Basin Activities

February 18, 2020 7:00 AM EST

Solid execution of capital program and strong customer activity drives FY 2019 net income of $319.9 million and Adjusted EBITDA1 of $526.5 million, a 25% increase over full-year 2018

Crestwoods core growth strategy exemplified with record Q4 2019 oil and gas gathering volumes in the Bakken, commissioning of the Bucking Horse II gas plant in the Powder River Basin and a new produced water gathering and disposal system in the Delaware Basin

2020E Adjusted EBITDA1 guidance range of $590 million to $620 million; mid-point implies 15% year- over-year growth over full-year 2019; 2020 capital program of $150 million to $200 million... More