Equitrans Midstream reports Q4 adjusted EPS 32c, consensus 20c

Reports Q4 revenue $360.6M, consensus $366.87M. “Following enactment of the Fiscal Responsibility Act of 2023, we have made substantial construction progress on the Mountain Valley Pipeline, and the major tasks to complete the pipeline continue to narrow,” said CEO Diana Charletta. “As we exited 2023, we continued to track to our prior guidance, despite challenging construction conditions causing lower productivity than forecasted…Collectively, these factors resulted in our updated timing and total project cost targets. ETRN is now targeting construction completion and commissioning in the second quarter of 2024, at a total estimated project cost ranging from approximately $7.57B to approximately $7.63B”. “Our Board of Directors has been engaged in a process with third parties that have expressed interest in strategic transactions with our company,” said Thomas F. Karam, executive chairman.