Crestwood Equity Partners (CEQP) Misses Q2 EPS, Revs

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Go back to Crestwood Equity Partners (CEQP) Misses Q2 EPS, Revs

Crestwood Announces Second Quarter 2020 Financial and Operating Results

August 4, 2020 7:00 AM EDT

Second quarter 2020 results exceeded revised expectations delivering a net loss of $24.3 million, Adjusted EBITDA of $127.8 million, a 5% year-over-year increase, and Distributable Cash Flow of $74.4 million, a 15% year-over-year increase

G&P volumes outperformed base case forecast and MS&L segment benefitted from recently acquired NGL assets, positioning Crestwood to maintain its distribution for the second quarter and remain on-track to achieve full-year Adjusted EBITDA within the revised guidance range

Better than forecasted cash flow contributions combined with significantly reduced capital expenditures position Crestwood to begin generating substantial free cash... More