Equitrans Midstream reports Q3 adjusted EPS 28c, consensus 11c

Reports Q3 revenue $338.51M, consensus $326.44M. “Once in-service, there is little doubt MVP will be one of the most valuable pipelines in the U.S., directly connecting our country’s largest and lowest-cost natural gas resource and the rapidly growing demand of the mid-Atlantic and southeast markets,” said CEO Thomas Karam. “The revised guidance on cost and completion for MVP are certainly more than we would prefer. However, we must deliver on our commitments of deploying unprecedented environmental protocols while at the same time remaining vigilant to protect the safety of our contractors and employees, as well as the opposition who continue to trespass on the right of way”…”As demonstrated in our Q3 results, Equitrans’ operations continue to deliver, with our integrated gathering and transmission assets providing the flexibility to take on significant ramps in volume like we experienced this quarter,” said COO Diana Charletta. “Looking ahead, we anticipate several years of mid-single digit annual volume growth, which is based primarily on possessing the direct connections to MVP, having currently available capacity provided by our gathering and transmission assets, and the world-class resource base that sits under our assets.”