Crestwood Announces Second Quarter 2020 Financial and Operating Results
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Crestwood Equity Partners (CEQP) Misses Q2 EPS, Revs
August 4, 2020 7:08 AM EDTCrestwood Equity Partners (NYSE: CEQP) reported Q2 EPS of ($0.68), $0.61 worse than the analyst estimate of ($0.07). Revenue for the quarter came in at $352.7 million versus the consensus estimate of $495.13 million.
Management Commentary
Despite the unprecedented volatility and uncertainty faced by the energy industry during the first half of the year, I am very pleased with the resiliency of our diversified midstream portfolio in the second quarter generating Adjusted EBITDA of $127.8 million and Distributable Cash Flow of $74.4 million. Importantly, even in an extremely challenging quarter, both cash flow metrics were improved year-over-year and were well-above... More
