Equitrans Midstream Q1 Adj $0.23 Misses $0.24 Estimate, Sales $364.27M Beat $363.76M Estimate
Portfolio Pulse from Benzinga Newsdesk
Equitrans Midstream (ETRN) reported Q1 adjusted earnings of $0.23 per share, missing the consensus estimate of $0.24 by 4.17%. Year-over-year, earnings increased by 4.55% from $0.22. Q1 sales were $364.27M, slightly above the estimate of $363.76M, but marked a 3.21% decrease from the previous year's $376.34M.
April 30, 2024 | 10:31 am
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NEUTRAL IMPACT
Equitrans Midstream's Q1 earnings missed estimates slightly, but sales exceeded expectations. Year-over-year, earnings saw a modest increase, while sales experienced a slight decline.
The slight miss in earnings per share (EPS) could be seen negatively by investors, but the beat on sales and the year-over-year earnings growth might offset negative sentiment. The decrease in sales compared to last year could raise concerns about growth, but the overall impact is likely to be neutral in the short term due to the mixed results.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100