Summit Midstream Partners (SMLP) Reports Q4 Revenues Results In-Line
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Summit Midstream Partners, LP Reports Fourth Quarter and Full-Year 2019 Financial Results & Provides 2020 Financial Guidance
February 28, 2020 6:55 AM ESTTHE WOODLANDS, Texas, Feb. 28, 2020 /PRNewswire/ -- Summit Midstream Partners, LP (NYSE: SMLP) announced today its financial and operating results for the three months ended December 31, 2019, including a net loss of $327.1 million, adjusted EBITDA of $77.5 million, DCF of $47.1 million, and a quarterly distribution coverage ratio of 4.0x. Net loss for the quarter was primarily related to a $336.7 million non-cash impairment associated with our equity investments in Ohio Gathering and Ohio Condensate due to an expected decrease in customer activity as a result of lower forward commodity prices. Net loss also included a $14.2... More
