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Equitrans Midstream (ETRN) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended September 2023, Equitrans Midstream (ETRN - Free Report) reported revenue of $338.51 million, up 2% over the same period last year. EPS came in at $0.28, compared to $0.09 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $333.49 million, representing a surprise of +1.51%. The company delivered an EPS surprise of +75.00%, with the consensus EPS estimate being $0.16.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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:
Operating Revenues- Gathering: $220.09 million versus the two-analyst average estimate of $212.25 million. The reported number represents a year-over-year change of -3.1%.
Operating Revenues- Water: $19.85 million versus the two-analyst average estimate of $20.17 million. The reported number represents a year-over-year change of +52.5%.
Operating Revenues- Transmission: $98.58 million compared to the $106.39 million average estimate based on two analysts. The reported number represents a change of +7.7% year over year.
Shares of Equitrans Midstream have returned -4.5% over the past month versus the Zacks S&P 500 composite's -2.8% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Equitrans Midstream (ETRN) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended September 2023, Equitrans Midstream (ETRN - Free Report) reported revenue of $338.51 million, up 2% over the same period last year. EPS came in at $0.28, compared to $0.09 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $333.49 million, representing a surprise of +1.51%. The company delivered an EPS surprise of +75.00%, with the consensus EPS estimate being $0.16.
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.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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:
- Operating Revenues- Gathering: $220.09 million versus the two-analyst average estimate of $212.25 million. The reported number represents a year-over-year change of -3.1%.
- Operating Revenues- Water: $19.85 million versus the two-analyst average estimate of $20.17 million. The reported number represents a year-over-year change of +52.5%.
- Operating Revenues- Transmission: $98.58 million compared to the $106.39 million average estimate based on two analysts. The reported number represents a change of +7.7% year over year.
View all Key Company Metrics for Equitrans Midstream here>>>Shares of Equitrans Midstream have returned -4.5% over the past month versus the Zacks S&P 500 composite's -2.8% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.