For the quarter ended December 2023, Equitrans Midstream (ETRN - Free Report) reported revenue of $360.61 million, up 1.5% over the same period last year. EPS came in at $0.32, compared to $0.13 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $352.69 million, representing a surprise of +2.24%. The company delivered an EPS surprise of +77.78%, with the consensus EPS estimate being $0.18.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Equitrans Midstream performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Water - Total water volumes: 356 MMgal compared to the 396.52 MMgal average estimate based on two analysts.
- Gathered volumes - Firm capacity: 5,567 BBtu/D compared to the 5,345.59 BBtu/D average estimate based on two analysts.
- Transmission - Average contracted firm transmission reservation commitments: 3,953 BBtu/D versus 3,515 BBtu/D estimated by two analysts on average.
- Transmission - Total transmission pipeline throughput: 3,603 BBtu/D versus the two-analyst average estimate of 3,371.85 BBtu/D.
- Gathered volumes - Volumetric-based services: 2,357 BBtu/D compared to the 2,356 BBtu/D average estimate based on two analysts.
- Operating Revenues- Gathering: $229.13 million versus the two-analyst average estimate of $221.35 million.
- Operating Revenues- Water: $18.38 million versus $20.88 million estimated by two analysts on average.
- Operating Revenues- Transmission: $113.10 million versus the two-analyst average estimate of $94.78 million.
- Operating income (loss)- Gathering: $111.78 million versus $169.69 million estimated by two analysts on average.
- Operating income (loss)- Water: $2.62 million versus the two-analyst average estimate of $8.65 million.
- Operating income (loss)- Transmission: $71.26 million compared to the $75.71 million average estimate based on two analysts.
View all Key Company Metrics for Equitrans Midstream here>>>Shares of Equitrans Midstream have returned -0.9% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
For the quarter ended December 2023, Equitrans Midstream (ETRN - Free Report) reported revenue of $360.61 million, up 1.5% over the same period last year. EPS came in at $0.32, compared to $0.13 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $352.69 million, representing a surprise of +2.24%. The company delivered an EPS surprise of +77.78%, with the consensus EPS estimate being $0.18.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Equitrans Midstream performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Water - Total water volumes: 356 MMgal compared to the 396.52 MMgal average estimate based on two analysts.
- Gathered volumes - Firm capacity: 5,567 BBtu/D compared to the 5,345.59 BBtu/D average estimate based on two analysts.
- Transmission - Average contracted firm transmission reservation commitments: 3,953 BBtu/D versus 3,515 BBtu/D estimated by two analysts on average.
- Transmission - Total transmission pipeline throughput: 3,603 BBtu/D versus the two-analyst average estimate of 3,371.85 BBtu/D.
- Gathered volumes - Volumetric-based services: 2,357 BBtu/D compared to the 2,356 BBtu/D average estimate based on two analysts.
- Operating Revenues- Gathering: $229.13 million versus the two-analyst average estimate of $221.35 million.
- Operating Revenues- Water: $18.38 million versus $20.88 million estimated by two analysts on average.
- Operating Revenues- Transmission: $113.10 million versus the two-analyst average estimate of $94.78 million.
- Operating income (loss)- Gathering: $111.78 million versus $169.69 million estimated by two analysts on average.
- Operating income (loss)- Water: $2.62 million versus the two-analyst average estimate of $8.65 million.
- Operating income (loss)- Transmission: $71.26 million compared to the $75.71 million average estimate based on two analysts.
View all Key Company Metrics for Equitrans Midstream here>>>Shares of Equitrans Midstream have returned -0.9% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
Get the latest research report on ETRN - FREE