Crestwood Equity Partners (CEQP) Misses Q3 EPS by 22c, Revenues Miss

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Go back to Crestwood Equity Partners (CEQP) Misses Q3 EPS by 22c, Revenues Miss

Crestwood Announces Third Quarter 2020 Financial and Operating Results and Provides Preliminary 2021 Outlook

October 27, 2020 7:00 AM EDT

Improved performance in the third quarter 2020 delivered net income of $4.6 million, Adjusted EBITDA of $136.0 million, and Distributable Cash Flow of $86.5 million, a 5% year-over-year increase

Third quarter results include positive free cash flow after capital expenditures and distributions, distribution coverage of 1.9x, leverage of 4.1x, approximately $450 million in liquidity and no near-term maturities until 2023

Bakken activities returned to pre-COVID levels including record natural gas volumes on the Arrow system driven by accelerated well-connect activity, enhanced well productivity and full resumption of normal operations

Based on... More