ETRN - Equitrans Midstream In Strategic Transaction Talks - What's On The Cards? | Benzinga
Equitrans Midstream Corp (NYSE:ETRN) reported fourth-quarter FY23 operating revenue of $360.6 million, missing the estimate of $366.9 million.
Revenue benefitted from higher gathered volumes, partially offset by lower water volumes. Adjusted EPS was $0.32, beating the estimate of $0.20.
Operating expenses remained relatively flat Y/Y at $175.3 million due to a $7.7 million decrease in costs related to the Rager Mountain natural gas storage field incident, partly offset by a $5.8 million increase in selling, general and administrative expenses on higher personnel costs and depreciation expenses.
Operating income rose to $185.3 million from $179.9 million a year ago. Adjusted EBITDA for the quarter was $272 million.
“Following enactment ...