Crestwood Equity Misses Q2 Sales Estimates, Expects FY23 Adj. EBITDA At Lower Half Of Guided Range
Portfolio Pulse from Lekha Gupta
Crestwood Equity Partners LP (CEQP) reported Q2 FY23 revenues of $1.02 billion, missing the consensus of $1.19 billion. The company's EPS of $1.16 beat the estimate of $0.26. However, adjusted EBITDA declined 2% Y/Y to $176 million. CEQP now expects FY23 adjusted EBITDA to be towards the lower half of the previously guided range of $780 million to $860 million. CEQP shares are trading lower by 4.57% at $27.80.
August 04, 2023 | 9:38 am
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NEGATIVE IMPACT
Crestwood Equity Partners LP (CEQP) reported lower than expected Q2 FY23 revenues and expects FY23 adjusted EBITDA at the lower half of the guided range. This has led to a decrease in the company's stock price.
Crestwood Equity Partners LP (CEQP) reported lower than expected Q2 FY23 revenues and expects FY23 adjusted EBITDA at the lower half of the guided range. This negative financial performance is likely to decrease investor confidence, leading to a decrease in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100