EQT Midstream Partners (NYSE: EQM), an EQT Corporation company, has announced their third quarter 2013 results for finances and operations. The Net income for Q3 totals in at $27.7 million and the adjusted EBITDA stands in at around $33.1 million. Operating income for the quarter was at $27.6 million which is a growth of 67% as compared to the last quarter, Q2. Distributable cash flow for the same was around $29.2 million and operating expenses saw an increase of $0.3 million when compared with figures from the same quarter in 2012. Operating revenues and expenses are seasonal and are expected that they will be higher by $2 million in the first and the fourth quarters of the year respectively.
Operating revenues for the latest quarter also increased by 33% hitting a figure of 11.4 million USD. The increase was attributed to the increase in the contracted transmission capacities associated with two compressor stations namely Sunrise and Blacksville. A higher system throughput was also reported due to the growth in Marcellus Shale Development.
The stock for EQT Corporation has risen up by 52.66% this year and it has recently reported a fall of -0.22% in the past 5 days. The company has around 150.59 million outstanding shares in its share capital at the moment.EQT Corporation (EQT) has three main segments through which it does its business: : EQT Production, EQT Midstream and Distribution.
EQT Corp. (NYSE:EQT) had last issued their quarterly earnings in July for the previous quarter. The company then reported $0.57 EPS for the quarter which was higher than the estimates from thomspn Reuters estimates of %0.56. the revenue during that quarter was also higher than the consensus estimates of $477.47 million to %520.10 million. In the same quarter in 2012 the company had posted earnings of 0.21 USD per share and the quarterly revenue for the company was up by 54% on an year-over-year basis. Analysts indicate that they EQT corporation will post an EPS of $2.44 for the current year.
