Better-Than-Expected Earnings: CNX Midstream Partners LP reported third-quarter 2019 earnings per unit of 58 cents, ahead of the Zacks Consensus Estimate of 53 cents.
Estimate Revision Trend & Surprise History: The stock had seen the Zacks Consensus Estimate for third-quarter earnings being revised 1.9% upward over the last 7 days.
Coming to earnings surprise history, the natural gas midstream infrastructure operator has a good record, having gone past the Zacks Consensus Estimate in three of the last four reports. This is depicted in the graph below:
Revenues: Revenues of $74 million missed the Zacks Consensus Estimate of $81 million.
Key Stats: Third-quarter sales for the Anchor Systems unit (which handles natural gas midstream facilities in the Marcellus Shale and Utica Shale in Pennsylvania and West Virginia) was $72.3 million, up from the year-ago revenue of $58.5 million. Meanwhile, Anchor Systems throughput volumes improved 33.7% year over year.
CNX Midstream Partners reported that its distributable cash flow (DCF) for third-quarter 2019 came in at $43.6 million, up 24.6% from the year-ago quarter.
Zacks Rank:Currently, CNX Midstream Partners carries a Zacks Rank #2 (Buy).
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
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CNX Midstream (CNXM) Q3 Earnings Beat, DCF Increases Y/Y
Better-Than-Expected Earnings: CNX Midstream Partners LP reported third-quarter 2019 earnings per unit of 58 cents, ahead of the Zacks Consensus Estimate of 53 cents.
Estimate Revision Trend & Surprise History: The stock had seen the Zacks Consensus Estimate for third-quarter earnings being revised 1.9% upward over the last 7 days.
Coming to earnings surprise history, the natural gas midstream infrastructure operator has a good record, having gone past the Zacks Consensus Estimate in three of the last four reports. This is depicted in the graph below:
CNX Midstream Partners LP Price and EPS Surprise
CNX Midstream Partners LP price-eps-surprise | CNX Midstream Partners LP Quote
Revenues: Revenues of $74 million missed the Zacks Consensus Estimate of $81 million.
Key Stats: Third-quarter sales for the Anchor Systems unit (which handles natural gas midstream facilities in the Marcellus Shale and Utica Shale in Pennsylvania and West Virginia) was $72.3 million, up from the year-ago revenue of $58.5 million. Meanwhile, Anchor Systems throughput volumes improved 33.7% year over year.
CNX Midstream Partners reported that its distributable cash flow (DCF) for third-quarter 2019 came in at $43.6 million, up 24.6% from the year-ago quarter.
Zacks Rank:Currently, CNX Midstream Partners carries a Zacks Rank #2 (Buy).
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
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The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
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