Compared to Estimates, Equitrans Midstream (ETRN) Q2 Earnings: A Look at Key Metrics
For the quarter ended June 2023, Equitrans Midstream (ETRN) reported revenue of $318.47 million, down 3.1% over the same period last year. EPS came in at $0.09, compared to $0.11 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $325.07 million, representing a surprise of -2.03%. The company delivered an EPS surprise of +12.50%, with the consensus EPS estimate being $0.08.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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: $210.19 million versus $215.90 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -6.7% change.
Operating Revenues- Water: $15.74 million versus the two-analyst average estimate of $17.45 million. The reported number represents a year-over-year change of +28.8%.
Operating Revenues- Transmission: $92.54 million versus $93.27 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +1.6% change.
View all Key Company Metrics for Equitrans Midstream here>>>
Shares of Equitrans Midstream have returned +8.3% over the past month versus the Zacks S&P 500 composite's +3.3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Equitrans Midstream Corporation (ETRN) : Free Stock Analysis Report
