CEQP - Crestwood Equity GAAP EPS of $1.16 beats by $0.33 revenue of $1.02B misses by $140M

2023-08-01 06:01:34 ET

• Crestwood Equity press release ( NYSE: CEQP ): Q2 GAAP EPS of $1.16 beats by $0.33 .
• Revenue of $1.02B (-29.7% Y/Y) misses by $140M .
• Expect full-year 2023E Adjusted EBITDA within the $780 million to $860 million guidance range, but likely within the lower half of the range primarily driven by lower commodity prices
• Second quarter 2023 Adjusted EBITDA of $176 million, compared to $180 million in the second quarter 2022, a decrease of 2% year-over-year
• Second quarter 2023 distributable cash flow (“DCF”) to common unitholders of $86 million and a coverage ratio of 1.3x

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